Finance Bill, 2025 Notifies Major Amendments in Chapter XIV-B of Income-Tax Act 1961 [Read Bill]
The evaluation of total unreported income has now taken the place of the evaluation of total income. The change guarantees that undeclared earnings are the primary target of search and requisition activities.
The Income-tax Act of 1961’s Chapter XIV-B was amended by the Finance Bill of 2025, which also redesigned the method for block assessments and placed more emphasis on figuring out concealed income. With their emphasis on transparency and targeted taxes, these modifications represent a significant departure from the previous income tax structure. Get Complete Coverage…
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