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India: Finance 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

Policy overview

Description

Finance 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…

Scope

Policy Area
Taxation
Policy Instrument
Direct taxes including Digital Service Taxes
Regulated Economic Activity
online advertising provider, platform intermediary: user-generated content, platform intermediary: e-commerce
Implementation Level
national
Government Branch
legislature
Government Body
parliament

Complete timeline of this policy change

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2025-02-01
under deliberation

On 1 February 2025, the Government of India introduced the Finance Bill, 2025 (Bill No. 7) in the L…

2025-03-25
under deliberation

On 25 March 2025, the House of the People (Lok Sabha) of the Parliament of India (Bharatiya Sansad)…

2025-03-27
adopted

On 27 March 2025, the Council of States (Rajya Sabha) of the Parliament of India (Bharatiya Sansad)…

2025-03-29
adopted

On 29 March 2025, the President of India signed into law the Finance Act 2025 (No. 7). The Finance …

2025-04-01
in force

On 1 April 2025, The Finance Act 2025 (No. 7) entered into force, implementing the abolition of the…

2026-04-01
in force

On 1 April 2026, the reporting requirement in Finance Bill 2025 under Section 25BAA of the Income-t…