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[ Thu, Mar 27th 2025 ]: Futurism
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[ Thu, Mar 27th 2025 ]: WTOP
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[ Thu, Mar 27th 2025 ]: Variety
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[ Thu, Mar 27th 2025 ]: Fortune
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[ Thu, Mar 27th 2025 ]: Yahoo
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[ Thu, Mar 27th 2025 ]: BirminghamWorld
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[ Thu, Mar 27th 2025 ]: Week99er
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[ Thu, Mar 27th 2025 ]: cnbctv18
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[ Thu, Mar 27th 2025 ]: CNN
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[ Thu, Mar 27th 2025 ]: Forbes
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[ Thu, Mar 27th 2025 ]: Bloomberg
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[ Thu, Mar 27th 2025 ]: GhanaWeb
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[ Thu, Mar 27th 2025 ]: Insider
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[ Thu, Mar 27th 2025 ]: Reuters
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[ Thu, Mar 27th 2025 ]: Moneycontrol
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Wed, March 26, 2025
[ Wed, Mar 26th 2025 ]: UPI
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[ Wed, Mar 26th 2025 ]: Forbes
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[ Wed, Mar 26th 2025 ]: CNET
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[ Wed, Mar 26th 2025 ]: Reuters
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[ Wed, Mar 26th 2025 ]: civicscience
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[ Wed, Mar 26th 2025 ]: Deadline
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[ Wed, Mar 26th 2025 ]: Fortune
Experts say Americans are so pessimistic about bu .. threshold that usually signals a recession ahead'

Finance Bill, 2025, limits tax scrutiny to undisclosed income in search cases

Now, tax authorities can reassess hitherto undisclosed earnings only, and not income that's already been declared.
The Finance Bill 2025, presented by Finance Minister Nirmala Sitharaman, introduces significant changes to the taxation framework, particularly concerning the scrutiny of income in search and seizure cases. The key amendment limits the tax scrutiny to only the undisclosed income found during these operations, rather than the entire income of the assessee. This move aims to reduce the burden on taxpayers by focusing solely on unreported income, thereby streamlining the tax assessment process. The bill also includes provisions to enhance transparency and efficiency in tax administration, ensuring that only relevant income is under scrutiny, which could potentially reduce litigation and disputes related to tax assessments. This amendment reflects the government's intent to foster a more taxpayer-friendly environment while maintaining stringent checks on undisclosed income.

Read the Full Moneycontrol Article at:
[ https://www.moneycontrol.com/news/business/economy/finance-bill-2025-limits-tax-scrutiny-to-undisclosed-income-in-search-cases-12977636.html ]