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of <h1>Proposed Changes in Clause 5 of Income Tax Bill 2025: Key Updates on Foreign Income and Residency Rules</h1> The article examines the proposed changes in Clause 5 of the Income Tax Bill, 2025, comparing it with Section 5 of the Income-tax Act, 1961. It highlights structural and substantive changes, such as replacing 'previous year' with 'tax year' and integrating provisions for 'not ordinarily resident' individuals into the main clause. The 2025 Bill maintains the core principles for residents and non-residents but refines language for clarity and consistency. The modifications aim to prevent double taxation and clarify foreign income treatment, ultimately enhancing compliance, reducing litigation, and aligning with international taxation standards.
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