*Important Update on New IT Bill* Section 64(1)(ii) of the Income Tax Act, 1961, is set to undergo a significant change with the introduction of the Income Tax Bill 2025. Currently, Section 64(1)(ii) provides for the clubbing of income of a spouse, specifically when it comes to remuneration received from a concern where the assessee has a substantial interest. However, there's an important exception to this provision: if the remuneration received by the spouse is solely attributable to their technical or professional knowledge, experience, and qualification, then the clubbing provision is not applicable. But here's the catch: this exception is NOT present in Clause 99(1) of the Income Tax Bill 2025! What does this mean? The clubbing provision may apply even if the remuneration is attributable to the spouse's technical or professional qualifications!