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of <h1>Strict Tax Rules Target Transactions in Non-Transparent Jurisdictions Under Section 176 to Prevent Potential Revenue Leakage</h1> Legal Framework for Transactions with Notified Jurisdictional AreasClause 176 of the Income Tax Bill, 2025 introduces a comprehensive framework for addressing tax transactions involving jurisdictions lacking effective information exchange. The provision aims to deter tax avoidance by imposing stricter compliance requirements, enabling tax authorities to scrutinize transactions with specified jurisdictions. Key measures include deeming certain transactions as international, disallowing specific deductions, mandating higher withholding tax rates, and treating unexplained receipts as taxable income. The clause closely mirrors existing legislation, reflecting a continued global approach to combating tax evasion through enhanced transparency and information sharing mechanisms.
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