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of <h1>Cross-Border Retirement Tax Relief: Deferral Mechanism for Non-Resident Indians' Foreign Pension Accounts Under Clause 158</h1> Concise Legal Summary:The text analyzes Clause 158 of the Income Tax Bill, 2025, addressing cross-border taxation of foreign retirement benefits. The provision aims to prevent double taxation for returning residents with retirement accounts in notified countries. It allows deferral of tax until withdrawal, applying to specified accounts opened while non-resident, with eligibility determined by government notification. The clause provides relief mechanism for individuals who accumulated retirement savings abroad, aligning Indian tax treatment with international practices and mitigating potential financial hardships for cross-border professionals.
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