On 30 October 2019, Finance Minister introduced Taxation Laws Amendment Bill 2019 (i.e. B18) in the National Assembly. This draft Bill amends the definition of rental income under section 25BB of the Income Tax Act, 1962. Under this Bill, rental income is the combination of aggregate of all amounts received or accrued (property income) in respect of the use of immovable property and the total of foreign exchange gains that relate to exchange items serving as a hedge in respect of property income.
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