Income-Tax Bill 2025 Simplifies Rules on Double Taxation, Transfer Pricing, and Anti-Avoidance with Key Drafting Fixes

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....The reviewed legislative clauses primarily involve textual simplifications and consolidations of provisions from the Income-Tax Act, 1961, into the Income-Tax Bill, 2025, without substantive policy changes. Key provisions address double taxation relief, transfer pricing, advance pricing agreements, safe harbour rules, and general anti-avoidance rules, maintaining their original intents while enhancing clarity and reducing litigation risks. Several drafting errors and ambiguities were identified, including incorrect cross-references, omission of critical definitions, and inconsistent terminology, which the Committee recommends be rectified to ensure legal precision and consistency. Specific concerns were raised regarding the treatment of reg.........