The Solar Oscillation Investigation -Michelson Doppler Imager (SOI/MDI) experiment on SOHO and ground-based helioseismic networks (GONG, MWO, BBSO, TON) have provided new interesting results on the differential rotation and flows in the solar convection zone. Accurately measured frequency splitting has allowed us to detect the zonal shear flows associated with the ‘torsional oscillations? in the upper convection zone and also study the evolution of these flows during the current solar minimum. The new data have also revealed anomalously slow rotation and other interesting variations of the differential rotation at high latitudes, and provided important insight into the structure and dynamics of the transition layer (‘tachocline’) at the bottom of the convection zone. With the new method of time-distance solar tomography it has become possible to study meridional circulation and asymmetries in the differential rotation in the convection zone. This method has also been employed for probing the structure of supergranulation and internal flows associated with sunspots and emerging magnetic flux. These and other new developments in helioseismology open important prospects for understanding the mechanisms of generation of solar magnetic fields.