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of <h1>Tax Evasion Crackdown: Clause 174 Targets Cross-Border Income Transfers with Robust Anti-Avoidance Mechanism</h1> Concise Legal Summary:Clause 174 of the Income Tax Bill, 2025 is a comprehensive anti-tax avoidance provision targeting cross-border transactions that transfer income to non-residents. The legislation aims to prevent tax evasion by establishing a broad deeming mechanism that allows taxation of income based on economic substance rather than legal form. It applies to asset transfers that result in income becoming payable to non-residents, with expansive interpretations of associated operations and power to enjoy income. The provision includes exceptions for genuine commercial transactions and seeks to align with international tax standards by focusing on the substantial economic effect of financial arrangements.
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