THE TAXATION LAWS (AMENDMENT) BILL, 2025
What does this law do?
This law amends the Income-tax Act, 1961 and Finance Act, 2025 to provide tax exemptions for certain pension payouts under the Unified Pension Scheme and to adjust tax rules for investments by the Public Investment Fund of Saudi Arabia. It also changes how tax assessments are handled during search operations.
Who it affects
Subscribers to the Unified Pension Scheme, businesses investing in infrastructure, and entities related to the Public Investment Fund of Saudi Arabia.
Key provisions
- Exemptions for pension payouts from the National Pension System Trust to Unified Pension Scheme subscribers up to 60% of individual corpus
- Tax exemptions for investments by the Public Investment Fund of Saudi Arabia and its wholly owned subsidiaries
- Changes to tax assessment rules for search cases, making pending assessments abate during search operations
- New provisions for calculating tax on pension payouts received upon retirement
Points worth noting
- This is an amendment to the Income-tax Act, 1961 and Finance Act, 2025
- It repeals certain provisions related to tax assessments during search operations
- It creates new tax exemptions for specific pension payouts and investments
| Source body | Parliament of India — Bills (Lok Sabha & Rajya Sabha) |
| Reference number | 105 |
| Status | closed (section: bill) |
| Year | 2025 |
| Closing date | — |
| Documents | 3 |
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Documents
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