Commuted pension, house property income, nil TDS, and other changes made in the Income Tax Bill, 2025

The revised Income Tax Bill 2025, approved by the Lok Sabha, addresses drafting errors from the previous version, set to take effect on April 1, 2026. Key corrections include nil TDS certificates, standard deductions for house property income, and tax deductions for commuted pension for non-employees. These modifications aim to restore clarity, align with existing provisions, and prevent unnecessary litigation.

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