Economic Times11h agoBusinessIndia
New Income Tax Act 2025: Presumptive Taxation Regime Faces Substantive Changes
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- India's new Income Tax Act, 2025 consolidates presumptive taxation into a single section, simplifying structure but introducing substantive changes.
- These changes may increase taxable income and compliance burdens for small businesses, professionals, and freelancers by disallowing loss adjustments and potentially expanding tax audit exposure.
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India's new Income Tax Act, 2025 consolidates presumptive taxation into a single section, simplifying structure but introducing substantive changes. These changes may increase taxable income and compliance burdens for small businesses, professionals, and freelancers by disallowing loss adjustments and potentially expanding tax audit exposure.
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This article was originally published by Economic Times.
