Top 8 Tax Changes of 2024! #tax #personalfinance #finance

📝 Take a note of this!

Here are the other key changes:

✔️ Tax on Buyback of Shares:

Before Oct 1, 2024: Companies paid 20% tax on buyback; shareholders got tax-free proceeds.

After Oct 1, 2024: Shareholders now pay tax on buyback income (as dividend) per their tax slab, while companies treat buyback costs as capital losses.

✔️ Old ITR Opening Limit Reduced:

Time limit to reopen old ITRs cut from 10 years to 5 years (if income escaping tax exceeds ₹50 lakh).

This reduces tax uncertainty and litigation.

✔️ Vivad Se Vishwas 2.0:

Launched on Oct 1, 2024, to help taxpayers resolve disputes smoothly.

#personalfinance #tax #finance

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