A Comparative Analysis of Salary Definition: Income Tax Bill, 2025 vs. Income-tax Act, 1961

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....he existing Section 17(1) of the Income-tax Act, 1961. This analysis examines the key changes, implications, and potential impact of the proposed modifications. 2. Objective and Purpose:  The primary objective appears to be: * Streamlining the definition of salary * Providing greater clarity through separate categorization * Incorporating modern compensation components * Ensuring be....

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....lause (h) with identical language 3. Provident Fund Provisions: * Current Act: References "Fourth Schedule" * Proposed Bill: References "Schedule XI" but maintains similar substance 4. Pension Scheme Contributions: * Current Act: References Section 80CCD * Proposed Bill: References Section 124, indicating structural reorganization 3.3 New Additions/Modifications 1. Agniveer Corpus Fund....