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of <h1>New Income Tax Bill 2025 Redefines 'Owner' for Property Taxation, Expands Scope, Simplifies Provisions Compared to 1961 Act</h1> The analysis compares the definition of 'owner' for house property taxation under Clause 25 of the Income Tax Bill, 2025, with Section 27 of the Income-tax Act, 1961. Both aim to define ownership for tax purposes, prevent tax avoidance, and clarify ownership in various arrangements. The 2025 Bill introduces clearer language and expanded scope, particularly in property transfers and rights through transactions, while removing outdated concepts and simplifying certain provisions. It omits definitions related to annual or capital charges and service taxes, potentially reducing interpretation disputes and affecting more taxpayers due to its broader scope.
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