The new Income Tax ... the nation’s tax system, the bill seeks to eliminate obsolete sections that have accumulated over decades. Its primary objective is to simplify the tax laws, ensuring ...

The Income-tax Bill, 2025 exemplifies the Government’s resolve to enhance the ease of doing business and create a transparent ...

The Income-Tax Bill 2025 was introduced in Lok Sabha on 13 February to replace the existing Act. This bill does not propose radical changes like the Draft Direct Taxes Code Bill of 2009, nor does ...

The New Income Tax Bill was cleared by PM Narendra Modi-led Union Cabinet last week. It features 536 clauses across 622 pages, replacing the existing 823-page law that has been in force for 64 years.

The bill aims to consolidate and amend the law related to income tax. It acknowledges that the existing law, passed in 1961, has been subject to numerous amendments that have overburdened its ...

The language used in the Bill at many places is extremely lucid and is reader friendly as it has tables and formulas as ...

Among the key likely changes in the new law is the replacement of the term "previous year" with "tax year", thereby doing away with the concept of the assessment year. Currently, taxes applicable to ...

The New Income-tax Bill, 2025 has been tabled in Parliament. The Bill aims to simplify the language of the existing law as amended to date. After tabling the bill, Ms Sitharaman's office tweeted ...

The bill aims to consolidate and amend the existing income-tax laws inorder to bring potential changes to the country's tax framework. The proposed legislation is expected to streamline tax ...

In her Budget speech, the Finance Minister announced the Narendra Modi government's plan to introduce such a bill to replace the existing tax law. "I am happy to inform this August House and the ...

The government is set to introduce the Income-Tax Bill, 2025, a comprehensive revamp of India’s tax laws, replacing the Income-Tax Act, 1961. The new legislation, scheduled to come into effect ...

In its current form income tax laws are heavily worded and hard for laypersons to understand, say tax experts. (Image: Freepik) Finance Minister Nirmala Sitharaman presented the new Income Tax ...