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of <h1>Landmark Tax Reform Transforms Income Assessment with Comprehensive Rules for Transparent Financial Reporting and Enhanced Compliance Mechanisms</h1> Legal analysis reveals a comprehensive legislative update to block period income computation in tax assessment. The new clause modernizes existing provisions by expanding income aggregation methods, clarifying assessment procedures, and introducing more structured rules for determining undisclosed income. Key changes include refined treatment of international transactions, explicit loss computation guidelines, and enhanced mechanisms for preventing double taxation while maintaining robust tax enforcement principles.
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