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Aug 14, 2025
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Commuted pension, house property income, nil TDS, and other changes made in the Income Tax Bill, 2025
The latest version of the Income Tax Bill, 2025 has corrected several drafting mistakes. It is set to take effect on April 1, 2026 for FY2026-27. The corrections include issues related to nil TDS certificates, standard deductions for house property income, tax deductions for commuted pension for non-employee category, among others.
In this article, we have summarized some of the key errors that the finance minister addressed in the updated Income Tax Bill, 2025.
On Monday, the Lok Sabha approved a revised Income Tax Bill 2025, correcting drafting oversights from the previous version that might have led to refund issues for taxpayers, made TDS rules more complicated, and limited property income deductions. Experts indicate these modifications restore clarity, align the law with long-standing provisions, and will help avoid unnecessary litigations.
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