The Finance Bill 2025 Proposes Key Amendments to Income Tax Act Including Changes to Section 9A and Presumptive Taxation

The Finance Bill, 2025 proposes several amendments to the Income-tax Act, 1961, including modifications to Section 9A to remove indirect participation requirements for eligible investment funds, restoring the Central Government's power to modify conditions under Section 9A(8A), and clarifying Section 44BBD's presumptive taxation scheme for non-residents. Additional amendments include replacing "IFSC insurance intermediary" with "IFSC insurance offices" in Section 10(10D), expanding the definition of "resultant fund" to include Retail Schemes and ETFs, extending tax exemptions under Section 10(4E) to OTC derivatives, and broadening the definition of "capital asset" to include securities held by Category I and II AIFs. Chapter XIV-B has been revised to focus on assessing undisclosed income rather than total income in search cases. .....

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