This article provides a detailed analysis of the amendments introduced in the Finance Bill 2025 as passed by the Lok Sabha on 25th March 2025. While most of the original proposals were retained, several impactful changes were made—particularly concerning presumptive taxation for non-residents, digital taxation, block assessments, and taxation of investment funds. Each amendment is examined in detail, along with its legislative rationale and practical implications for stakeholders across sectors. The key highlights include:
‣ Withdrawal of Equalisation Levy – Levy on online ads and e-commerce transactions removed from 1st April 2025
‣ Section 44BBD – Provisions of Section 44DA or Section 115A shall not apply in respect of the amounts referred to in this subsection
‣ Revamp of Block Assessment Provisions – Clearer and direct computation method for undisclosed income introduced
‣ Section 143(1)(a) Adjustments – To be made for inconsistencies in ITR compared to previously filed ITRs
