Relief for taxpayers in income tax search and requisition cases as government amends the Finance Bill 2025

Income Tax: The govt said: "The word ‘total income’ has been replaced with ‘total undisclosed income’ in the marginal heading and in sub-section (1) and sub-section (7) of section 158BA.... The concept of assessment of total income has been replaced with the assessment of undisclosed income. This reflects a paradigm shift where the main objective of a search or requisition is to identify income that has not been disclosed."