Business Taxes Due 2024 In India. The finance act sections 1 to 99 (page 1 to 54) amends income tax act, section 158 (page 68 to 69) amends prohibition of benami property transactions act and section 164 (page 70 to 71) amends black money act. However, a crucial requirement for these companies is to commence manufacturing operations by 31 march 2024.
Indian businesses are facing a higher tax outgo due to a new law that requires them to clear outstanding dues to small and micro vendors within 45 days. This rate is currently available to new domestic manufacturing companies under section 115bab.
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