Finance Ministry

Finance Act (No. 2) 2024 receives assent of the President, gets notified

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 >>

Share

Recent Posts

  • Income Tax

AO took a reasonable stand that 25 kg written in WhatsApp chat was 25 lakh – ITAT

Assessing Officer had taken a reasonable stand that 25 kg written in WhatsApp chat/text message was 25 lakh - ITAT…

5 hours ago
  • Income Tax

Shareholders can’t be taxed for income from properties owned by the company – HC

Shareholders are only owners of the shares of the company therefore, income from properties earned by the company cannot be…

7 hours ago
  • Income Tax

Jurisdictional error in reassessment approval can’t be shielded by the law of limitation

When approval for reassessment was granted by unauthorised authority, such jurisdictional error cannot be shielded by the law of limitation…

10 hours ago
  • Income Tax

ITAT ought to remanded whole matter of bogus purchases instead of profit determination

ITAT on presumption of bogus purchases ought to have remanded case to AO to reconsider the whole matter instead of…

11 hours ago
  • Income Tax

Where proceedings u/s 153C barred by limitation, AO can’t invoke section 148 & 148A

Where proceedings u/s 153C are barred by limitation, AO can not reopen the case invoking section 148 and 148A of…

1 day ago
  • bankruptcy

Corporate guarantees executed by corporate debtor constitute “financial debt” under IBC

Corporate guarantees executed by the corporate debtor constitute “financial debt” under IBC and banks to be recognized as financial creditors…

1 day ago