India: Abolition of equalisation levy on digital advertisement services and reporting obligations for crypto-assets in Finance Act 2025 (No. 7)
Progress
Scope
Timeline of events
Finance Bill 2025 (No. 7) including reporting requirement enters into force
On 1 April 2026, the reporting requirement in Finance Bill 2025 under Section 25BAA of the Income-tax Act will come into force, requiring prescribed entities dealing in crypto-assets to submit transaction-related information to the Income-tax author…
SourceFinance Act 2025 (No. 7) including abolition of equalisation levy on digital advertisement services enters into force
On 1 April 2025, The Finance Act 2025 (No. 7) entered into force, implementing the abolition of the 6% Equalisation Levy on online advertising services. The repeal is applicable to consideration for digital advertisement services arising on or after…
SourceFinance Act 2025 (No. 7) including abolition of equalisation levy on digital advertisement services was signed by President
On 29 March 2025, the President of India signed into law the Finance Act 2025 (No. 7). The Finance Act 2025, includes the abolition of the 6% compensatory levy on remuneration for online advertising services provided by non-resident entities with ef…
SourceFinance Bill 2025 (No. 7) including provisions for abolition of Equalisation Levy on digital advertisement services and reporting obligations for crypto-assets was adopted by Council of States
On 27 March 2025, the Council of States (Rajya Sabha) of the Parliament of India (Bharatiya Sansad) adopted the amended Finance Bill, 2025 (No. 7). The endorsement of the Bill by the Rajya Sabha completed the parliamentary process and enabled the Bi…
SourceFinance Bill 2025 (No. 7) including provisions for abolition of Equalisation Levy on digital advertisement services and reporting obligations for crypto-assets was passed by Lok Sabha
On 25 March 2025, the House of the People (Lok Sabha) of the Parliament of India (Bharatiya Sansad) approved the Finance Bill 2025 (No. 7). Following passage in the lower house, the legislation will be transmitted to the Council of States (Rajya Sab…
SourceFinance Bill 2025 (Bill No. 7) including provisions for abolition of Equalisation Levy on digital advertisement services and reporting obligations for crypto-assets was introduced in Lok Sabha
On 1 February 2025, the Government of India introduced the Finance Bill, 2025 (Bill No. 7) in the Lok Sabha, initiating the legislative process to implement the measures proposed in the Union Budget 2025–26. Among the provisions proposed in the Fina…
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