Income Tax
The Taxation Laws (Amendment) Bill, 2025 proposes three major reforms. First, it provides tax exemptions for pensioners, allowing 60% of the NPS corpus and lump-sum payments under the Unified Pension Scheme to be tax-free, promoting retirement security. Second, it extends international tax exemptions by including Saudi Arabia’s Public Investment Fund and subsidiaries as specified persons, strengthening global investment relations. Third, it revises block assessment provisions for search cases, clarifies abatement of pending assessments, and aims to streamline tax administration while reducing litigation.
(The Taxation Laws (Amendment) Bill No. 105 of 2025, dated 10.08.2025)
