Finance Act (No. 2) 2024 receives assent of the President, gets notified.
The Finance Act (No. 2) 2024 has been notified by the Ministry of Law and Justice. The Finance Act (No. 2) of 2024 received the assent of the President on 16th August 2024.
The Finance (No. 2) Bill 2024 Bill No. 55 of 2024 was presented in Lok Sabha as a part of Union Budget 2024-25 on 22nd July 2024 and was passed by the Lok Sabha on 7th August 2024.
The income tax provisions shall be deemed to have come into force on the 1st day of April, 2024. Whereas provisions related to GST shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint.
Download PDF copy of Finance Act (No. 2) of 2024 >>
- Receipts mentioning that it was towards corpus, donation assumed to be for corpus of trust
- Credit in partner’s capital account for book entry adjustments can not be added u/s 68
- Non-compliance of summons issued u/s 131 no ground to make addition u/s 68
- Assessee not obliged to demonstrate actual utilization of donation u/s 35(1)(ii)
- For Registration u/s 12AB, phrase “genuineness of activities” is interpreted liberally
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