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of <h1>Clause 61 Introduces Presumptive Income Method for Non-Resident Businesses in Shipping, Aviation, and More</h1> Clause 61 of the Income Tax Bill, 2025, outlines a presumptive income computation method for specified business activities conducted by certain non-residents. It applies to operations such as shipping, cruise ships, aircraft operations, civil construction for approved power projects, and services related to mineral oil production and electronics manufacturing. The profits are calculated as a percentage of specified receipts, varying by business type. Non-residents can claim lower profits if they maintain required records and undergo audits. Deductions against computed income are not allowed, and asset depreciation is assumed for tax purposes. Certain provisions do not apply to specific cases.
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