https://www.taxtmi.com/news?id=52192 The Income Tax (No.2) Bill, 2025 replaces the prior framework, simplifying structure and replacing assessment/previous year concepts with a tax year; it preserves TDS refunds for belated returns, reintroduces certain dividend deductions, amends loss carry forward and set off rules, omits the beneficial owner reference, provides nil TCS on LRS education remittances, harmonises Micro and Small enterprise definitions, and retains search and seizure powers including authority to force entry and override access codes to computer systems as defined to include virtual digital space. en-us Mon, 11 Aug 2025 19:01:05 +0530 Wed, 13 Aug 2025 16:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=52192 The Income Tax (No.2) Bill, 2025 replaces the prior framework, simplifying structure and replacing assessment/previous year concepts with a tax year; it preserves TDS refunds for belated returns, reintroduces certain dividend deductions, amends loss carry forward and set off rules, omits the beneficial owner reference, provides nil TCS on LRS education remittances, harmonises Micro and Small enterprise definitions, and retains search and seizure powers including authority to force entry and override access codes to computer systems as defined to include virtual digital space. News - Mon, 11 Aug 2025 19:01:05 +0530 https://www.taxtmi.com/news?id=52192