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of <h1>Income Tax Bill, 2025: Clause 39 Modernizes Asset Cost Computation, Replaces Section 43, Emphasizes Electronic Payments and Indirect Subsidies.</h1> The Income Tax Bill, 2025, introduces Clause 39, which modernizes the computation of actual asset costs for business income, replacing Section 43 of the Income Tax Act, 1961. Clause 39 aims to prevent tax avoidance by excluding certain subsidies and non-banking payments from asset cost calculations, aligning with contemporary accounting practices. It provides detailed guidelines for asset valuation in cases like amalgamations and demergers. While both provisions focus on preventing inflated asset costs, Clause 39 offers a more structured and updated approach, emphasizing electronic payments and indirect subsidies, reflecting changes in the business environment and technology.
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