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of <h1>Income Tax Bill 2025 Refines Residential Status Rules: New Provisions for High-Income Individuals, Enhanced POEM Definition</h1> The Income Tax Bill 2025 introduces significant updates to the determination of residential status for taxpayers in India, refining the provisions of the Income-tax Act, 1961. Key changes include a more organized structure with 14 sub-sections, clearer definitions, and specific provisions for high-income individuals and companies. The Bill retains the 182-day rule but provides precise language and exceptions for certain individuals. It introduces a Rs. 15 lakh threshold for high-income individuals and modifies residency criteria. For companies, the Place of Effective Management (POEM) definition is enhanced. These changes aim to align with international standards, offering clarity and reducing disputes in tax administration.
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