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        Bill

        Clause 19 of Income Tax Bill, 2025 restructures salary...

        New Income Tax Bill Proposes Two-Tier Standard Deduction System and Streamlined Salary Benefits Under Clause 19

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                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.
                                Clause 19 of Income Tax Bill, 2025 restructures salary deductions by consolidating provisions from Sections 16 and 10 of Income Tax Act, 1961 into a comprehensive tabular format. Key modifications include a two-tier standard deduction (Rs. 75,000 for taxpayers under section 202(1) and Rs. 50,000 for others), streamlined gratuity provisions under Serial Numbers 3-6, and rationalized pension and leave salary provisions under Serial Numbers 7-9 and 13-14 respectively. The amendment simplifies Voluntary Retirement Scheme benefits with a Rs. 5,00,000 limit and consolidates retrenchment compensation provisions. This restructuring aims to enhance administrative efficiency, improve compliance, and reduce potential litigation through clearer computation methodologies and reduced cross-referencing requirements.
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