Income Tax Bill 2025

Here’s a detailed summary of the relaxation of deemed let-out property provisions under the Finance Bill 2025, including key changes, tax implications, and practical examples: 1. Key Changes in Deemed Let-Out Property Rules (Effective April 1, 2025) Removal of Occupation Conditions: Previously, taxpayers could claim two properties as self-occupiedonly if they couldn’t occupy the second property due to employment, business, […]

Here’s a detailed summary of the removal of the Equalisation Levy (EL) in India, including key changes, effective dates, and implications: 1. Overview of Equalisation Levy Removal The Finance Bill 2025 has abolished the 6% Equalisation Levy (EL) on digital advertising services provided by non-resident companies, effective from April 1, 2025. This follows the earlier removal of the 2% EL on e-commerce transactions in 2024.