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of <h1>New Income Tax Bill 2025: Clause 35 Tightens Rules on Expense Deductions, Focusing on Digital Economy and TDS Compliance.</h1> Clause 35 of the Income Tax Bill, 2025, and Section 40 of the Income-tax Act, 1961, both address non-deductibility of certain expenses in business or professional income calculations, aiming to prevent tax avoidance and ensure compliance with tax obligations. Clause 35 introduces detailed provisions, particularly regarding digital economy taxation and state-imposed charges. It includes sub-clauses on non-deductibility of taxes, TDS compliance, cross-border salary payments, equalisation levy, and partnership payments. Section 40 serves similar purposes but is less comprehensive. These provisions require businesses to adhere to TDS rules and partnership agreements to avoid disallowance of deductions.
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