Revisions to the amendments proposed to the Income-tax Act, 1961 by the Finance Bill, 2025 (read TaxNewsFlash) include:
- Presumptive taxation scheme for nonresidents providing electronics manufacturing services: Expanded to include income in the nature of royalties or fees for technical services otherwise taxable on gross basis
- Equalisation levy on online advertisement services provided by nonresidents: Repeal the levy effective April 1, 2025
- Treatment of securities held by investment fund and invested in accordance with SEBI regulations as capital assets: Extended to securities invested in accordance with IFSCA Act, 2019
- Funds in International Financial Services Centre (IFSC) qualification for tax exemption: Repeal of separate conditions imposed for qualification for tax exemption
Read a March 2025 report prepared by the KPMG member firm in India