The latest amendments to the Union Budget 2024, as detailed in the Finance Bill (No.2) 2024, represent a significant shift toward greater transparency and compliance within our tax system. These changes introduce a more flexible tax structure for resident taxpayers while imposing stricter regulations on non-residents. This evolution in the tax structure aims to improve clarity and accountability, ensuring that all parties adhere to updated standards.
Here’s the comprehensive analysis in this document that offers a breakdown of these amendments, elucidating their impact on taxpayers and the broader tax environment.