The Central Board of Direct Taxes (CBDT) has amended Form No. 7 to include both "Assessment Year" and "Block Period," effective September 1, 2025. This blog details the changes, explains the concept of a "Block Period" in tax assessments, and discusses the implications for taxpayers, particularly in cases of search and seizure operations.

An extensive overview of the changes made to the Income Tax Act of 1961 by the Finance Act of 2024 may be found in this blog article. It discusses the main adjustments, their effects on taxpayers, and the new tax system, tax rates, deductions, and exemptions.

The Budget Proposal 2024-25 has introduced several amendments to the direct tax regime in India. This blog provides a comprehensive guide to the top 10 amendments, including changes to standard deduction, angel tax, buyback tax, and more. Understand how these changes will impact you and plan your taxes accordingly.