A Comparative Analysis of Perquisite Provisions: Income Tax Bill, 2025 vs Income Tax Act, 1961

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....f the Income Tax Act, 1961. The new provisions aim to streamline and modernize the taxation of perquisites while maintaining certain key exemptions. 2. Key Structural Changes 2.1 Organization and Format * The new Bill presents a more organized structure with clear subsections and better categorization of perquisites * The language has been simplified and modernized * Explanations have been....

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....e employer contributions to various funds * Combines provisions for different types of funds under a single clause * Includes new provisions for annual accretion calculations 4. Exemptions and Exclusions 4.1 Medical Benefits Retained Exemptions: * Treatment in employer-maintained hospitals * Treatment in government/approved hospitals * Medical insurance premium payments New Features:....