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<h1>Income Tax Bill, 2025: Clause 18 Redefines 'Profits in Lieu of Salary' in Section 17(3) of Income-tax Act, 1961</h1> The Income Tax Bill, 2025, introduces Clause 18, revising the definition and scope of 'profits in lieu of salary' to replace Section 17(3) of the Income-tax Act, 1961. Clause 18 is organized into two subsections: defining profits and listing exclusions. Key changes include distinct provisions for termination and modification of employment terms, clearer distinctions between pre and post-employment payments, and a structured approach to payments from employers and funds. The new clause removes complex cross-references and introduces a schedule-based system for exclusions, simplifying understanding for taxpayers and employers regarding taxable and non-taxable components.