Govt to introduce new I-T bill in Parl next week; to raise insurance FDI to 100 pc
1 month, 4 weeks ago

Govt to introduce new I-T bill in Parl next week; to raise insurance FDI to 100 pc

Live Mint  

New Delhi, Feb 1 The government will introduce a new Income Tax bill next week to take forward the "trust first, scrutinise later" concept, Finance Minister Nirmala Sitharaman said on Saturday. Sitharaman also mentioned the government coming out with taxpayers' charter, faster returns process and almost 99 per cent of the income returns being on self-assessment. The government will introduce new Income Tax bill next week in Parliament to take forward "trust first, scrutinise later" concept. Pursuant to the Budget announcement by Sitharaman for a comprehensive review of the Income-tax Act, 1961, the CBDT had set up an internal committee to oversee the review and make the Act concise, clear, and easy to understand, which will reduce disputes, litigation, and provide greater tax certainty to taxpayers.

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History of this topic

Steep cut in tax won’t be rolled back, FM tells LS
Trending News
4 days, 12 hours ago

Steep cut in tax won’t be rolled back, FM tells LS

Hindustan Times  

New Delhi Union finance minister Nirmala Sitharaman assured the Lok Sabha on Tuesday that the steep reduction in personal income-tax for the middle class would not be rolled back in the future, noting that the government has carefully factored in the ₹1 lakh crore outgo while estimating revenue for 2025-26, which includes a 13%-plus projected growth in personal income tax …

New Income Tax Bill to be taken up for discussion in monsoon session, Nirmala Sitharaman says
5 days, 4 hours ago

New Income Tax Bill to be taken up for discussion in monsoon session, Nirmala Sitharaman says

Hindustan Times  

The new Income Tax Bill will be taken up for discussion in the monsoon session of Parliament, Finance Minister Nirmala Sitharaman said on Tuesday. Replying to the discussions on the Finance Bill 2025 in the Lok Sabha, Sitharaman said the new income tax bill, which was introduced in the House on February 13, is currently being vetted by the Select …

FM Nirmala Sitharaman: Parliament to discuss new Income Tax Bill in Monsoon Session
5 days, 4 hours ago

FM Nirmala Sitharaman: Parliament to discuss new Income Tax Bill in Monsoon Session

The Hindu  

The new Income Tax Bill will be taken up for discussion in the Monsoon Session of Parliament, Finance Minister Nirmala Sitharaman said on Tuesday. Replying to the discussions on the Finance Bill 2025 in the Lok Sabha, Ms. Sitharaman said the new Income Tax Bill, which was introduced in the House on February 13, is currently being vetted by the …

Will the new ‘lucid’ Income Tax bill reduce disputes and litigation?
1 month, 1 week ago

Will the new ‘lucid’ Income Tax bill reduce disputes and litigation?

The Hindu  

The story so far: Finance Minister Nirmala Sitharaman introduced the Income Tax Bill, 2025, in Lok Sabha on February 13 to make India’s direct tax law “concise, lucid, easy to read and understand”. The existing Income Tax Act of 1961 has been amended numerous times, “overburdening” the law and making its language complex, argues the new IT Bill. The new …

New Income Tax: While Australia took 3 years and UK even longer, how did tax reforms in India happen in 6 months?
Trending News
1 month, 2 weeks ago

New Income Tax: While Australia took 3 years and UK even longer, how did tax reforms in India happen in 6 months?

Live Mint  

India's income tax law has recently undergone a major reform with a new Bill having been introduced in the Lok Sabha on Thursday and proposed to be reviewed by the select committee. The new Income Tax Bill aims to make the tax legislation simpler, concise and easy to read, so that there is less litigation arising out of complex provisions. …

Simplify, simplify, simplify: The mantra of India’s Income Tax Bill
1 month, 2 weeks ago

Simplify, simplify, simplify: The mantra of India’s Income Tax Bill

Live Mint  

In an era that glorifies radical and dramatic change, the quiet power of incremental reform tends to be overlooked. The new Income Tax Bill, 2025, falls into this category. There are some substantive changes to be sure, but the focus of the new Bill is more towards making the law more concise, lucid and easy to understand. However, the introduction …

Income Tax Bill 2025: Now you can do 'section to section mapping' of I-T Act, check here how
Trending News
1 month, 2 weeks ago

Income Tax Bill 2025: Now you can do 'section to section mapping' of I-T Act, check here how

India TV News  

If you are one among those who are a little worried about the new New Income Tax Bill, here is good news for you. Now, Income Taxpayers can match the sections of the I-Tax Act, 1961, with the corresponding clauses in the simplified I-T Bill, 2025, on the tax department portal. Section to Section mapping on I-Twebsite Also, Section to …

Income Tax department activates section wise mapping of I-T Act, Tax bill
1 month, 2 weeks ago

Income Tax department activates section wise mapping of I-T Act, Tax bill

Live Mint  

New Delhi, Feb 15 Income Tax payers can now match the sections of the I-Tax Act, 1961, with the corresponding clauses in the simplified I-T Bill, 2025, on the tax department portal. Also, Section to Section mapping as per Income Tax Act, 1961 and Section number as per New Income Tax Bill has been uploaded on the I-T department's website. …

India’s new income tax bill: It’s more concise and makes for a friendly tax law
1 month, 2 weeks ago

India’s new income tax bill: It’s more concise and makes for a friendly tax law

Live Mint  

The Income Tax Bill 2025 marks a significant step towards modernizing India’s tax framework, aiming to simplify compliance and enhance efficiency. By streamlining tax provisions, reducing redundancies, and introducing clearer legislative language, the Bill seeks to address long-standing complexities in the tax law. Tax simplifications and rationalization: The Bill introduces several key changes aimed at easing tax compliances and reducing …

India’s Income Tax Bill sets the stage for significant reforms
1 month, 2 weeks ago

India’s Income Tax Bill sets the stage for significant reforms

Live Mint  

The Income Tax Act of 1961 has undergone innumerable amendments since its inception. We have an outdated Income Tax Act, burdened with obsolete provisions and a cumbersome structure, especially in the context of economic liberalization, which reduced the government’s role in the economy. Given that the Centre has undertaken major reforms in recent years—introducing a new Companies Act, overhauling civil …

New income tax bill: All your questions answered
1 month, 2 weeks ago

New income tax bill: All your questions answered

India Today  

Finance Minister Nirmala Sitharaman presented the New Income Tax Bill in Parliament on Thursday, in order to simplify the country’s six-decade old Income Tax Act, 1961. WHAT IS THE NEED FOR A NEW INCOME TAX BILL? The Income Tax Bill of 2025 is a much-needed reform that simplifies this complex framework, making tax laws more accessible and transparent. The new …

New Income Tax bill explained: What's changing and what's not
1 month, 2 weeks ago

New Income Tax bill explained: What's changing and what's not

India Today  

Finance Minister Nirmala Sitharaman introduced the new Income Tax Bill in Lok Sabha on Thursday. The bill aims to simplify the existing Income Tax Act, 1961, by making it more structured and easier to understand. The new bill also includes repeals and savings clauses to ensure that the rights and benefits accrued to taxpayers under the old law are protected.” …

Watch | Explained: What’s in the new Income Tax Bill?
1 month, 2 weeks ago

Watch | Explained: What’s in the new Income Tax Bill?

The Hindu  

Finance Minister Nirmala Sitharaman introduced the Income Tax Bill, 2025, in the Lok Sabha on February 13, 2025. This new legislation, which seeks to simplify and modernise India’s tax system, would replace the six-decade-old Income Tax Act, 1961, when it is passed by the Parliament and when the President gives her assent. The new Income Tax Bill consists of 536 …

New Income Tax Bill: Simpler, lighter and future-ready
1 month, 2 weeks ago

New Income Tax Bill: Simpler, lighter and future-ready

Live Mint  

The long-awaited bill for the new tax code was tabled in Parliament on Thursday. The bill fulfills the finance minister's commitment to provide an income tax law that is straightforward for both taxpayers and tax administrators, aiming to establish tax certainty and reduce litigation. As promised, on the first flush, the new income tax bill is direct in text, replacing …

New Income Tax Bill 2025 PDF: Here's Quick Access To Official Link, Top Highlights For You
1 month, 2 weeks ago

New Income Tax Bill 2025 PDF: Here's Quick Access To Official Link, Top Highlights For You

ABP News  

New Income Tax Bill: The much-anticipated Income Tax Bill, 2025, was introduced in Parliament today, marking a major effort to streamline the language and structure of the existing Income-tax Act, 1961. New Income Tax Bill PDF Download LINK For keen researchers, the Income Tax Bill, 2025, is available for the public on the official sansad.in website. Here's how you can …

New Income Tax Bill introduced in Parliament: Read the key changes in the direct tax law
1 month, 2 weeks ago

New Income Tax Bill introduced in Parliament: Read the key changes in the direct tax law

Op India  

The Income Tax Bill 2025 was presented in the Lok Sabha by the Union Finance Minister Nirmala Sitharaman today. Key Features of the Bill The existing Income Tax Act has 23 chapters containing 536 sections and 16 schedules in 880 pages. The new Bill has done away with this distinction and introduces a single ‘Tax Year’ which will coincide with …

What is the need for new Income Tax Bill 2025? ‘To review…’ says Centre
1 month, 2 weeks ago

What is the need for new Income Tax Bill 2025? ‘To review…’ says Centre

Hindustan Times  

Finance Minister Nirmala Sitharaman tabled the Income Tax Bill 2025 in the Lok Sabha on February 13. Finance Minister Nirmala Sitharaman had announced a comprehensive review of Income Tax Act 1961 on July 23, 2024 and had set a time limit of six months for the same. The bill and act in numbers The Income Tax Act 1961 had 5.12 …

Congress MP Manish Tewari says new Income Tax Bill is more complicated
1 month, 2 weeks ago

Congress MP Manish Tewari says new Income Tax Bill is more complicated

Hindustan Times  

Congress MP Manish Tewari on Thursday criticized the new Income Tax Bill, arguing that, contrary to Union Finance Minister Nirmala Sitharaman's claims, the proposed legislation is more complex than the existing one. Manish Tewari, a Congress MP, blasted the new Income Tax Bill on Thursday, saying that it is more complicated than the current one, despite what Union Finance Minister …

Amid uproar over Waqf report, Sitharaman tables new Income Tax Bill in Parliament
Trending News
1 month, 2 weeks ago

Amid uproar over Waqf report, Sitharaman tables new Income Tax Bill in Parliament

Firstpost  

The new Income Tax Bill is intended to simplify the direct taxation regime in India and replace the Income Tax Act of 1961 Union Finance Minister Nirmala Sitharaman on Thursday tabled the new Income Tax Bill in the parliament. The new Income Tax bill is meant to simplify the direct taxation regime and replace the Income Tax Act of 1961. …

New Income Tax bill 2025 tabled in Parliament: Top 10 highlights every taxpayer MUST know
1 month, 2 weeks ago

New Income Tax bill 2025 tabled in Parliament: Top 10 highlights every taxpayer MUST know

Live Mint  

Finance Minister Nirmala Sitharaman introduced the Income Tax Bill 2025 in the Lok Sabha on Thursday, 13 February. New Income Tax Bill 2025 tabled in Parliament. “Based on my cursory reading of the new income tax bill, I feel it is merely a good job of editing the existing Income Tax Act. 8) Taxes for cryptocurrency In Clauses 67 to …

Finance Minister Nirmala Sitharaman Tables New Income Tax Bill In Lok Sabha
1 month, 2 weeks ago

Finance Minister Nirmala Sitharaman Tables New Income Tax Bill In Lok Sabha

ABP News  

Finance Minister Nirmala Sitharaman presented the new Income Tax Bill In Lok Sabha on Thursday, which will replace the Income Tax Act, 1961. The new Income Tax Bill aims to simplify and modernise India's tax system. The existing Income Tax Act consists of 298 sections across 23 chapters, covering personal income tax, corporate taxes, securities transaction tax, and gift tax. …

New income tax bill reaches Parliament: Finance Minister Nirmala Sitharaman tables I-T Bill 2025 in Lok Sabha
1 month, 2 weeks ago

New income tax bill reaches Parliament: Finance Minister Nirmala Sitharaman tables I-T Bill 2025 in Lok Sabha

Live Mint  

Income Tax Bill 2025: Finance Minister Nirmala Sitharaman tabled the new direct tax code or the Income Tax Bill 2025 in Lok Sabha on Thursday. Finance Minister Nirmala Sitharaman asked Lok Sabha Speaker to form review committee for the the newly tabled Income Tax Bill 2025. Naveen Wadhwa, Vice President, Taxmann, said, “The Income Tax Bill tabled in Parliament will …

Income Tax Bill news: ‘India’s Direct Taxation System will be overhauled to make it compliance-friendly,’ says BJP MP
1 month, 2 weeks ago

Income Tax Bill news: ‘India’s Direct Taxation System will be overhauled to make it compliance-friendly,’ says BJP MP

Live Mint  

BJP MP Tejasvi Surya has commended the new Income Tax Bill on Thursday, highlighting that the legislation will simplify the lives of Indian taxpayers. Like many other areas where PM Narendra Modi's government has brought tremendous reforms, India's Direct Taxation System will also be overhauled to make it modern, simple, rational, and more compliance-friendly,” Surya said. The new Income Tax …

What to expect from the new income tax law: Simplicity, tax certainty, reduced litigation
1 month, 2 weeks ago

What to expect from the new income tax law: Simplicity, tax certainty, reduced litigation

Live Mint  

New Delhi: The government is set to introduce the Income Tax Bill, 2025, in parliament on Thursday, seeking to replace a six-decade-old law with a crisper and shorter statute. Signal from the government The new Income Tax Bill is a key element of the set of reforms announced in finance minister Nirmala Sitharaman’s budget speech this year. What the bill …

New Income Tax Bill: How will it make taxpayers' lives simpler?
1 month, 2 weeks ago

New Income Tax Bill: How will it make taxpayers' lives simpler?

India Today  

The new Income Tax Bill will be tabled today in the Parliament by Finance Minister Nirmala Sitharaman. Rohinton Sidhwa, Partner, Deloitte India said, "The new Income Tax Bill 2025, set to be tabled in Parliament, marks a historic moment in India's tax landscape, as it will replace the current year's legislation which was introduced way back in the year 1961." …

New Income Tax Bill more complicated than previous one: Congress MP Manish Tewari
1 month, 2 weeks ago

New Income Tax Bill more complicated than previous one: Congress MP Manish Tewari

New Indian Express  

NEW DELHI: Congress MP Manish Tewari on Thursday criticized the new Income Tax Bill, arguing that, contrary to Union Finance Minister Nirmala Sitharaman's claims, the proposed legislation is more complex than the existing one. "The Union Finance Minister had said that the new Income Tax Bill will be simpler than the previous bill. The new Income Tax Bill is set …

New Income Tax bill focuses simpler rules; makes no structural changes
1 month, 2 weeks ago

New Income Tax bill focuses simpler rules; makes no structural changes

New Indian Express  

NEW DELHI: The new Income Tax Bill is more about consolidation of scattered tax provisions, simplification and elimination of redundant laws than about rate ir structural changes. The Bill, which is likely to be tabled on Thursday, maintains the existing tax rates and leaves capital gains tax rules unchanged. The new tax regime has been put in chapter XIII of …

Simplified I-T Bill likely to be tabled in Parliament today
1 month, 2 weeks ago

Simplified I-T Bill likely to be tabled in Parliament today

Deccan Chronicle  

New Delhi: The government is likely to introduce the simplified Income-Tax Bill 2025 in Parliament on Thursday. The simplified Bill will replace 298 sections and 14 schedules in the six-decade-old Income-Tax Act 1961. The statement of objects and reasons of the new I-T bill says that the Income-Tax Act passed in 1961 has been subjected to numerous amendments since its …

New Income Tax Bill 2025: This may still undergo several changes sooner than later
1 month, 2 weeks ago

New Income Tax Bill 2025: This may still undergo several changes sooner than later

Live Mint  

Union Finance Minister Nirmala Sitharaman is likely to present the new income tax bill in the Parliament on Thursday. However, it is noteworthy that the current Bill is expected to undergo a lot of changes since the income tax portal is still inviting suggestions from people with regards to the new tax bill under the section ‘new’. Either this is …

Income Tax: ‘Assessment year’ to become ‘tax year’, govt to table new bill in Lok Sabha tomorrow
1 month, 2 weeks ago

Income Tax: ‘Assessment year’ to become ‘tax year’, govt to table new bill in Lok Sabha tomorrow

Firstpost  

After the Union Cabinet chaired by Prime Minister Narendra Modi approved the new Income Tax bill last week, it is expected to be tabled in the parliament tomorrow Finance Minister Nirmala Sitharaman, carrying a red pouch containing budget documents, poses for a photograph with colleagues as she arrives to present the budget in the Parliament in New Delhi, on Saturday. …

New Income Tax Bill to introduce simpler 'tax year' concept: All you need to know
1 month, 2 weeks ago

New Income Tax Bill to introduce simpler 'tax year' concept: All you need to know

India Today  

Finance Minister Nirmala Sitharaman is likely to table the New Income Tax Bill on Thursday, February 13. However, the new bill aims to simplify and streamline the existing Income Tax Act of 1961, which is often seen as cumbersome and difficult to comprehend by the common taxpayers. “The new tax bill seems to be simply the language and do away …

From reducing legal complexities to streamline compliance: How New Income Tax Bill to help taxpayers
1 month, 2 weeks ago

From reducing legal complexities to streamline compliance: How New Income Tax Bill to help taxpayers

India TV News  

As the New Income Tax Bill is likely to be introduced by Finance Minister Nirmala Sitharaman anytime this week, there are specualtions about the contents of the new bill and its potential positive impact on taxpayers. Various tax experts think that the new income tax bill is likely to bring a siginificant change in India’s taxation system by focusing on …

New Income Tax Bill on tax structure reform may be tabled in Lok Sabha today
1 month, 2 weeks ago

New Income Tax Bill on tax structure reform may be tabled in Lok Sabha today

India Today  

Finance Minister Nirmala Sitharaman is likely to table the new Income Tax Bill, aimed to reform the country's taxation system, in the Lok Sabha on Monday, sources told India Today TV. The bill, which got the approval of the Union Cabinet on Friday, will replace the six-decade-old Income Tax Act, and will be sent to the Standing Committee for detailed …

The income tax gambit to ramp up India’s growth
1 month, 3 weeks ago

The income tax gambit to ramp up India’s growth

Live Mint  

The new income tax bill must align with global best practices to attract foreign investment, support domestic businesses, and benefit individual taxpayers, experts said as India’s tax regime prepared for a major overhaul. “We are certain the new Act will align with global standards and India’s economic commitments.” Sudhakar Sethuraman, partner at Deloitte India, agreed that adopting global best practices …

Tax Monthly Digest: January 2025
1 month, 3 weeks ago

Tax Monthly Digest: January 2025

Live Law  

SUPREME COURT Motor Accident Claims - Tax Returns Can Be Accepted To Determine Income Only If They Are Appropriately Produced : Supreme Court Case name: New India Assurance Co. Ltd. V. Sonigra Juhi Uttamchand. A division bench of Justices Yashwant Varma and Dharmesh Sharma ruled, “The Commissioner, while seeking to review an order passed under the Act and in purported …

Income Tax Bill to make rules simpler, easy to read
1 month, 3 weeks ago

Income Tax Bill to make rules simpler, easy to read

New Indian Express  

NEW DELHI: The Income Tax Bill, approved by the Cabinet on Friday, will not have any rate surprises. The bill is a major exercise in making the income tax rules simpler and easily comprehensible. What we are saying is that a law which has been amended more than 4,000 times, and has a lot of redundant provisions, can have a …

RBI, FinMin to work together; Tax relief, interest rate cut to boost demand: FM Sitharaman ahead of new I-T bill
1 month, 3 weeks ago

RBI, FinMin to work together; Tax relief, interest rate cut to boost demand: FM Sitharaman ahead of new I-T bill

Live Mint  

Finance Minister Nirmala Sitharaman said on Saturday, February 8, 2025 that fiscal and monetary measures announced by the government and the central bank recently will help boost consumption and promote private investment. 'Tax relief, interest rate cut to boost consumption' As a result of tax relief proposals, the government will forego revenue of ₹1 lakh crore in direct taxes and …

Hope to introduce new income tax bill in Lok Sabha next week: Nirmala Sitharaman
1 month, 3 weeks ago

Hope to introduce new income tax bill in Lok Sabha next week: Nirmala Sitharaman

The Hindu  

Finance Minister Nirmala Sitharaman on Saturday said she is likely to introduce the new income tax bill, which will replace the six-decade-old I-T Act, in the Lok Sabha in the coming week. “Yesterday, the Cabinet cleared the New Income Tax proposal, I hope to have it introduced in the Lok Sabha in the coming week. “I still have three critical …

Nirmala Sitharaman Says New Income Tax Bill Likely To Be Presented In Lok Sabha Next Week
Top News
1 month, 3 weeks ago

Nirmala Sitharaman Says New Income Tax Bill Likely To Be Presented In Lok Sabha Next Week

ABP News  

Finance Minister Nirmala Sitharaman on Saturday said she is likely going to table the new income tax bill in the Parliament next week. Speaking at a media briefing after addressing the post-Budget customary meeting with the central board of directors of the Reserve Bank of India, the minister said, “Yesterday, the Cabinet cleared the New Income Tax proposal, I hope …

Hope to introduce new income tax bill in Lok Sabha next week: Sitharaman
1 month, 3 weeks ago

Hope to introduce new income tax bill in Lok Sabha next week: Sitharaman

Hindustan Times  

Finance Minister Nirmala Sitharaman on Saturday said she is likely to introduce the new income tax bill, which will replace the six-decade-old I-T Act, in the Lok Sabha in the coming week. "Yesterday, the Cabinet cleared the New Income Tax proposal, I hope to have it introduced in the Lok Sabha in the coming week. "I still have three critical …

Cabinet approves Income Tax Bill, expected to be tabled next week
1 month, 3 weeks ago

Cabinet approves Income Tax Bill, expected to be tabled next week

Firstpost  

The Union Cabinet has approved the Income Tax bill and it is expected to be tabled in the parliament next week Finance Minister Nirmala Sitharaman, carrying a red pouch containing budget documents, poses for a photograph with colleagues as she arrives to present the budget in the Parliament in New Delhi, on Saturday. AP The Union Cabinet, chaired by Prime …

Cabinet approves Income Tax Bill, expected to be tabled next week
1 month, 3 weeks ago

Cabinet approves Income Tax Bill, expected to be tabled next week

Firstpost  

The Union Cabinet has approved the Income Tax bill and it is expected to be tabled in the parliament next week Finance Minister Nirmala Sitharaman, carrying a red pouch containing budget documents, poses for a photograph with colleagues as she arrives to present the budget in the Parliament in New Delhi, on Saturday. AP The Union Cabinet, chaired by Prime …

New Income Tax Bill likely to be introduced in Lok Sabha next week
1 month, 3 weeks ago

New Income Tax Bill likely to be introduced in Lok Sabha next week

India TV News  

New Income Tax Bill: Finance Minister Nirmala Sitharaman on Saturday said that she may introduce the new Income Tax Bill in the Lok Sabha next week. "Yesterday, the Cabinet cleared the New Income Tax proposal, I hope to have it introduced in the Lok Sabha in the coming week. "I still have three critical stages to pass through," Sitharaman said …

Cabinet okays bill to replace Income Tax Act, may be tabled in parliament soon
Top News
1 month, 3 weeks ago

Cabinet okays bill to replace Income Tax Act, may be tabled in parliament soon

Live Mint  

The Union cabinet on Friday approved a bill to replace the more than six-decade-old Income Tax Act,1961 with a new, simpler and easy-to-understand law, as part of the government's regulatory reforms. The new Income Tax Bill is a key element of the regulatory reforms announced by finance minister Nirmala Sitharaman in her budget speech on 1 February, which outlined the …

Cabinet clears Income Tax bill, to be introduced in Parliament next week
1 month, 3 weeks ago

Cabinet clears Income Tax bill, to be introduced in Parliament next week

Hindustan Times  

The Union Cabinet on Friday approved the new income tax bill, which will replace the six decades old I-T Act, sources told PTI. Finance Minister Nirmala Sitharaman announced in Budget 2025-26 that the new tax bill will be introduced in the ongoing session of Parliament. Also, 22 specialised sub-committees have been established to review the various aspects of the Income …

Cabinet clears new income tax bill
1 month, 3 weeks ago

Cabinet clears new income tax bill

The Hindu  

The Union Cabinet on Friday approved the new income tax bill, which will replace the six decades old I-T Act, sources said. The Cabinet, chaired by Prime Minister Narendra Modi, approved the New Income Tax Bill, sources said. Sources said the new income tax bill will now be introduced in the Parliament next week and would be sent to Parliament's …

New Income Tax Bill Greenlit By Union Cabinet To Streamline Taxation Framework: Report
Top News
1 month, 3 weeks ago

New Income Tax Bill Greenlit By Union Cabinet To Streamline Taxation Framework: Report

ABP News  

New Income Tax Bill: The Union Cabinet has reportedly given its nod to a new Income Tax Bill aimed at simplifying India’s tax framework and modernising compliance procedures, as reported by PTI citing sources. Finance Minister Nirmala Sitharaman first announced the Narendra Modi Government's intent to overhaul the tax framework during her Budget 2024 presentation. Updated Tax Slabs & Rates …

New Income Tax Bill gets Cabinet approval, likely to be introduced in Parliament next week: Sources
1 month, 3 weeks ago

New Income Tax Bill gets Cabinet approval, likely to be introduced in Parliament next week: Sources

India TV News  

New Income Tax Bill: The Union Cabinet on Friday approved the New Income Tax Bill, which is set to replace the six-decade-old Income Tax Act, news agency PTI reported citing sources. The New Income Tax Bill is expected to be introduced in the Parliament next week and would be sent to Parliament's Standing Committee on Finance. Finance Minister Nirmala Sitharaman …

Finance secretary calls for investment, and innovation to drive economic growth
1 month, 3 weeks ago

Finance secretary calls for investment, and innovation to drive economic growth

Live Mint  

New Delhi: While the government having returned money to citizens through tax cuts in the budget, it is now for industry and businesses to take investment risks and create institutions and jobs, finance secretary Tuhin Kanta Pandey said on Thursday. Economic impetus Last week, finance minister Nirmala Sitharaman in her budget speech highlighted several measures to give an impetus to …

New Income Tax Bill to Simplify Compliance
1 month, 3 weeks ago

New Income Tax Bill to Simplify Compliance

Deccan Chronicle  

New Delhi: The new income tax bill, likely to be tabled in Parliament next week, will not have long sentences, provisos and explanations. “The new income tax bill is expected to make compliance of the income tax law easier for taxpayers and income tax authorities by reducing complexity. The new income tax bill, which will replace the Income Tax Act, …

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