Additionally, the power to change these rules was initially removed from the central government in the first draft of the Finance Bill 2025.
The government on Monday proposed to abolish the equalisation levy of 6 per cent on online advertisement services provided by non-resident entities, a move that would benefit companies like Google, Meta, and X.
Now, there will not be any controversy, as by explicitly excluding Sections 44DA and 115A, the government is ensuring that companies under Section 44BBD can enjoy simplified taxation without unexpected complications,” Ved Jain, tax expert and former president of the Institute of Chartered Accountants of India (ICAI), said.
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