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The new Income Tax Bill aims to replace the outdated 1961 Act, simplifying direct tax laws, reducing ambiguities, and curbing ...
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 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 ...
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 ...
India with Budget 2025: The new income tax law, which will replace the six-decade-old Income Tax Act, is expected to be introduced in the Lok Sabha next week, according to Finance Minister Nirmala ...
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 ...
Some of the key features of the New Income Tax Bill 2025 include simplifying the Tax law, making alignments with Global Laws, making trust-based systems, and many more. Check the table below for ...
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.
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