*Taxmann's Analysis | From ITA to ITB – 50+ Changes You Must Know* The Finance Minister, Smt. Nirmala Sitharaman introduced the Income-tax Bill 2025 (ITB) in Parliament on February 13, 2025, bringing significant changes. This article highlights the top 50+ key changes in ITB, including: ‣ Modifications in Terminology ‣ Taxation of NPOs ‣ Business Income Deductions ‣ Capital Gains ‣ Procedural Reforms in Assessments, Reassessments, and Tax Compliance 𝐌𝐚𝐣𝐨𝐫 𝐊𝐞𝐲 𝐮𝐩𝐝𝐚𝐭𝐞𝐬 𝐢𝐧𝐜𝐥𝐮𝐝𝐞: ‣ Replacement of the term "previous year" with "tax year" ‣ A new taxation framework for Non-Profit Organizations (NPOs) ‣ Exclusion of GST from the cost of assets for input tax credit claimants ‣ Revised reassessment provisions with extended limitation periods ‣ Expanded scope of search, seizure, and survey powers ‣ New regulations on tax deductions, appeals, and penalties ‣ Introduction of digital assets into tax liability and compliance Download/Read More: https://taxmann.social/8aU2O [14 Mins | Read Time] Authored by Taxmann's Advisory & Research Team | Income Tax #taxmannupdates #taxmannadvisory #incometaxbill2025 #incometaxact #incometax #capitalgains #npo