DIRECT TAXES
Income-tax - Finance Bill, 2025

Chapter: III
DIRECT TAXES Income-tax
Clause 3	:	Amendment of section 2. Clause 3 of the Bill seeks to amend section 2 of the Income-tax Act relating to definitions. Clause (14) of the said section ....
Clause 4	:	Amendment of section 9. Clause 4 of the Bill seeks to amend section 9 of the Income-tax Act relating to income deemed to accrue or arise in India. Cl....
Clause 5	:	Amendment of section 9A. Clause 5 of the Bill seeks to amend section 9A of the Income-tax Act relating to certain activities not to constitute busines....
Clause 6	:	Amendment of section 10. Clause 6 of the Bill seeks to amend section 10 of the Income-tax Act relating to incomes not included in total income. It is ....
Clause 7	:	Amendment of section 12AB. Clause 7 of the Bill seeks to amend section 12AB of the Income-tax Act relating to procedure for fresh registration. Sub-sect....
Clause 8	:	Amendment of section 13. Clause 8 of the Bill seeks to amend section 13 of the Income-tax Act relating to section 11 not to apply in certain cases. Su....
Clause 9	:	Amendment of section 17. Clause 9 of the Bill seeks to amend section 17 of the Income-tax Act relating to salary , perquisite and profits in lieu of s....
Clause 10	:	Amendment of section 23. Clause 10 of the Bill seeks to amend section 23 of the Income-tax Act, relating to annual value how determined. Sub-section (....
Clause 11	:	Insertion of new section 44BBD. Clause 11 of the Bill seeks to insert a new section 44BBD in the Income-tax Act relating to special provision for computing p....
Clause 12	:	Amendment of section 45. Clause 12 of the Bill seeks to amend section 45 of the Income-tax Act relating to capital gains. Sub-section (1B) of the said....
Clause 13	:	Amendment of section 47. Clause 13 of the Bill seeks to amend section 47 of the Income-tax Act relating to Transactions not regarded as transfer. Clau....
Clause 14	:	Amendment of section 72A. Clause 14 of the Bill seeks to amend section 72A of the Income-tax Act relating to carry forward and set off of accumulated l....
Clause 15	:	Amendment of section 72AA. Clause 15 of the Bill seeks to amend section 72AA of the Income-tax Act relating to carry forward and set off of accumulated ....
Clause 16	:	Amendment of section 80CCA. Clause 16 of the Bill seeks to amend section 80CCA of the Income-tax Act, relating to deduction, inter alia, in respect of de....
Clause 17	:	Amendment of section 80CCD. Clause 17 of the Bill seeks to amend section 80CCD of the Income-tax Act relating to deduction of contribution to pension sch....
Clause 18	:	Amendment of section 80-IAC. Clause 18 of the Bill seeks to amend section 80-IAC of the Income-tax Act relating to special provision in respect of specifi....
Clause 19	:	Amendment of section 80LA. Clause 19 of the Bill seeks to amend section 80LA of the Income-tax Act relating to deductions in respect of certain incomes ....
Clause 20	:	Amendment of section 87A. Clause 20 of the Bill seeks to amend section 87A of the Income-tax Act relating to rebate of income-tax in case of certain in....
Clause 21	:	Amendment of section 92CA. Clause 21 of the Bill seeks to amend section 92CA of the Income-tax Act relating to reference to Transfer Pricing Officer. Su....
Clause 22	:	Amendment of section 112A. Clause 22 of the Bill seeks to amend section 112A of the Income-tax Act relating to tax on long-term capital gains in certain....
Clause 23	:	Amendment of section 115AD. Clause 23 of the Bill seeks to amend section 115AD of the Income-tax Act relating to tax on income of Foreign Institutional I....
Clause 24	:	Amendment of section 115BAC. Clause 24 of the Bill seeks to amend section 115BAC of the Income-tax Act relating to tax on income of individuals, Hindu und....
Clause 25	:	Amendment of section 115UA. Clause 25 of the Bill seeks to amend section 115UA of the Income-tax Act relating to tax on income of unit holder and busines....
Clause 26	:	Amendment of section 115V. Clause 26 of the Bill seeks to amend section 115V of the Income-tax Act relating to definitions. It is proposed to insert a d....
Clause 27	:	Amendment of section 115VB. Clause 27 of the Bill seeks to amend section 115VB of the Income-tax Act relating to operating ships. The said section provid....
Clause 28	:	Amendment of section 115VD. Clause 28 of the Bill seeks to amend section 115VD of the Income-tax Act relating to qualifying ship. The said section provid....
Clause 29	:	Amendment of section 115VG. Clause 29 of the Bill seeks to amend section 115VG of the Income-tax Act relating to computing of tonnage income. Sub-section....
Clause 30	:	Amendment of section 115V-I. Clause 30 of the Bill seeks to amend section 115V-I of the Income-tax Act relating to relevant shipping income. Sub-section (....
Clause 31	:	Amendment of section 115VK. Clause 31 of the Bill seeks to amend section 115VK of the Income-tax Act relating to depreciation. Sub-section (2) of the sai....
Clause 32	:	Amendment of section 115VP. Clause 32 of the Bill seeks to amend section 115VP of the Income-tax Act relating to method and time of opting for tonnage ta....
Clause 33	:	Amendment of section 115VT. Clause 33 of the Bill seeks to amend section 115VT of the Income-tax Act relating to transfer of profits to tonnage tax reser....
Clause 34	:	Amendment of section 115VV. Clause 34 of the Bill seeks to amend section 115VV of the Income-tax Act relating to limit for charter in of tonnage. It is p....
Clause 35	:	Amendment of section 115VX. Clause 35 of the Bill seeks to amend section 115VX of the Income-tax Act relating to determination of tonnage. Clause (a) of ....
Clause 36	:	Amendment of section 115VZA. Clause 36 of the Bill seeks to amend section 115VZA of the Income-tax Act relating to effect of temporarily ceasing to operat....
Clause 37	:	Amendment of section 132. Clause 37 of the Bill seeks to amend section 132 of the Income-tax Act relating to search and seizure. Sub-section (8) of the....
Clause 38	:	Amendment of section 132B. Clause 38 of the Bill seeks to amend section 132B of the Income-tax Act which deals application of seized or requisitioned as....
Clause 39	:	Amendment of section 139. Clause 39 of the Bill seeks to amend section 139 of the Income-tax Act, relating to return of income. The said section provid....
Clause 40	:	Amendment of section 140B. Clause 40 of the Bill seeks to amend section 140B of the Income-tax Act relating to tax on updated return. Sub-section (3) of....
Clause 41	:	Amendment of section 144BA. Clause 41 of the Bill seeks to amend the section 144BA of the Income-tax Act relating to reference to Principal Commissioner ....
Clause 42	:	Amendment of section 144C. Clause 42 of the Bill seeks to amend section 144C of the Income-tax Act relating to reference to dispute resolution panel. Th....
Clause 43	:	Amendment of section 153. Clause 43 of the Bill seeks to amend the section 153 of the Income-tax Act relating to time limit for completion of assessmen....
Clause 44	:	Amendment of section 153B. Clause 44 of the Bill seeks to amend the section 153B of the Income-tax Act relating to time limit for completion of assessme....
Clause 45	:	Amendment of section 155. Clause 45 of the Bill seeks to amend section 155 of the Income-tax Act relating to other amendments. It is proposed to insert....
Clause 46	:	Amendment of section 158B. Clause 46 of the Bill seeks to amend section 158B of the Income-tax Act relating to definitions. Clause (b) of the said secti....
Clause 47	:	Amendment of section 158BA. Clause 47 of the Bill seeks to amend section 158BA of the Income-tax Act relating to assessment of total income as a result o....
Clause 48	:	Amendment of section 158BB. Clause 48 of the Bill seeks to amend section 158BB of the Income-tax Act relating to computation of total income of block per....
Clause 49	:	Amendment of section 158BE. Clause 49 of the Bill seeks to amend section 158BE of the Income-tax Act relating to time-limit for completion of block asses....
Clause 50	:	Amendment of section 158BFA. Clause 50 of the Bill seeks to amend section 158BFA of the Income-tax Act relating to levy of interest and penalty in certain....
Clause 51	:	Amendment of section 193. Clause 51 of the Bill seeks to amend section 193 of the Income-tax Act relating to interest on securities. The said section, ....
Clause 52	:	Amendment of section 194. Clause 52 of the Bill seeks to amend section 194 of the Income-tax Act relating to dividends. The said section provides for d....
Clause 53	:	Amendment of section 194A. Clause 53 of the Bill seeks to amend section 194A of the Income-tax Act relating to interest other than Interest on securitie....
Clause 54	:	Amendment of section 194B. Clause 54 of the Bill seeks to amend section 194B of the Income-tax Act relating to winnings from lottery or crossword puzzle....
Clause 55	:	Amendment of section 194BB. Clause 55 of the Bill seeks to amend section 194BB of the Income-tax Act relating to winnings from horse race. The said secti....
Clause 56	:	Amendment of section 194D. Clause 56 of the Bill seeks to amend section 194D of the Income-tax Act relating to Insurance commission. The said section, i....
Clause 57	:	Amendment of section 194G. Clause 57 of the Bill seeks to amend section 194G of the Income-tax Act relating to commission, etc., on sale of lottery tick....
Clause 58	:	Amendment of section 194H. Clause 58 of the Bill seeks to amend section 194H of the Income-tax Act relating to commission or brokerage. The said section....
Clause 59	:	Amendment of section 194-I Clause 59 of the Bill seeks to amend section 194-I of the Income-tax Act relating to rent. The said section 194-I, inter alia....
Clause 60	:	Amendment of section 194J. Clause 60 of the Bill seeks to amend section 194J of the Income-tax Act relating to fees for professional or technical servic....
Clause 61	:	Amendment of section 194K. Clause 61 of the Bill seeks to amend section 194K of the Income-tax Act relating to income in respect of units. The said sect....
Clause 62	:	Amendment of section 194LA. Clause 62 of the Bill seeks to amend section 194LA of the Income-tax Act relating to payment of compensation on acquisition o....
Clause 63	:	Amendment of section 194LBC. Clause 63 of the Bill seeks to amend section 194LBC of the Income-tax Act relating to income in respect of investment in secu....
Clause 64	:	Amendment of section 194Q. Clause 64 of the Bill seeks to amend section 194Q of the Income-tax Act relating to tax deduction at source on payment of cer....
Clause 65	:	Amendment of section 194S. Clause 65 of the Bill seeks to amend section 194S of the Act relating to payment on transfer of virtual digital asset. Sub-se....
Clause 66	:	Omission of section 206AB. Clause 66 of the Bill seeks to omit section 206AB of the Income-tax Act relating to special provision for deduction of tax at....
Clause 67	:	Amendment of section 206C. Clause 67 of the Bill seeks to amend section 206C of the Income-tax Act relating to profits and gains from the business of tr....
Clause 68	:	Omission of section 206CCA. Clause 68 of the Bill seeks to omit section 206CCA of the Income-tax Act relating to special provision for collection of tax ....
Clause 69	:	Amendment of section 246A. Clause 69 of the Bill seeks to amend section 246A of the Income-tax Act relating to appealable orders before Commissioner (Ap....
Clause 70	:	Amendment of section 253. Clause 70 of the Bill seeks to amend section 253 of the Income-tax Act relating to appeals to the Appellate Tribunal. The sai....
Clause 71	:	Amendment of section 255. Clause 71 of the Bill seeks to amend section 255 of the Income-tax Act relating to the procedure of Appellate Tribunal. The s....
Clause 72	:	Amendment of section 263. Clause 72 of the Bill seeks to amend the section 263 of the Income-tax Act relating to revision of orders prejudicial to reve....
Clause 73	:	Amendment of section 264. Clause 73 of the Bill seeks to amend the section 264 of the Income-tax Act relating to revision of other orders. The said sec....
Clause 74	:	Amendment of section 270AA. Clause 74 of the Bill seeks to amend section 270AA of the Income-tax Act, 1961 relating to immunity from imposition of penalt....
Clause 75	:	Amendment of section 271AAB. Clause 75 of the Bill seeks to amend section 271AAB of the Income-tax Act relating to penalty where search has been initiated....
Clause 76	:	Omission of section 271BB. Clause 76 of the Bill seeks to omit the section 271BB of the Income-tax Act relating to failure to subscribe to the eligible ....
Section 77	:	Amendment of section 271C. Clause 77 of the Bill seeks to amend the section 271C of the Income-tax Act relating to penalty for failure to deduct tax at ....
Clause 78	:	Amendment of section 271CA. Clause 78 of the Bill seeks to amend the section 271CA of the Income-tax Act relating to penalty for failure to collect tax a....
Clause 79	:	Amendment of section 271D. Clause 79 of the Bill seeks to amend the section 271D of the Income-tax Act relating to penalty for failure to comply with th....
Clause 80	:	Amendment of section 271DA. Clause 80 of the Bill seeks to amend the section 271DA of the Income-tax Act relating to penalty for failure to comply with t....
Clause 81	:	Amendment of section 271DB. Clause 81 of the Bill seeks to amend the section 271DB of the Income-tax Act relating to penalty for failure to comply with t....
Clause 82	:	Amendment of section 271E. Clause 82 of the Bill seeks to amend the section 271E of the Income-tax Act relating to penalty for failure to comply with th....
Clause 83	:	Substitution of new section for section 275. Clause 83 of the Bill seeks to substitute section 275 of the Income-tax Act, relating to bar of limitation for imposing penal....
Clause 84	:	Amendment of section 276BB. Clause 84 of the Bill seeks to amend section 276BB of the Income-tax Act relating to failure to pay the tax collected at sour....
Clause 85	:	Insertion of new section 285BAA. Clause 85 of the Bill seeks to insert new section 285BAA in the Income-tax Act relating to obligation to furnish information ....
Clause 86	:	Amendment of rule 68B of the Second Schedule. Clause 86 of the Bill seeks to amend rule 68B of the Second Schedule to the Income- tax Act relating to time-limit for sale o....