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of <h1>Income Tax Bill 2025 Clause 393(6) allows taxpayers to avoid TDS by declaring nil income</h1> The Income Tax Bill 2025's Clause 393(6) replaces Section 197A of the Income Tax Act 1961, allowing eligible taxpayers to avoid tax deduction at source by furnishing declarations that their estimated total income will be nil. The provision covers individuals, senior citizens, and non-corporate entities for payments including interest, dividends, insurance commission, rent, and life insurance proceeds. Recipients must submit written declarations in prescribed form to payers, who then refrain from TDS and forward copies to tax authorities within seven days. The reform expands coverage beyond the original provision, includes explicit threshold conditions, and anticipates digital compliance mechanisms while maintaining safeguards against abuse.
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