Budget 2025: 3 income tax changes by FM Nirmala Sitharaman that could benefit the middle class
1 month, 3 weeks ago

Budget 2025: 3 income tax changes by FM Nirmala Sitharaman that could benefit the middle class

Live Mint  

Budget 2025: Middle-class income taxpayers are looking forward to possible revisions that could provide much-needed relief. In her eighth straight union budget, will Finance Minister Nirmala Sitharaman make announcements that will majorly impact the middle class by increasing their disposable incomes and promoting long-term financial growth? 3 income tax changes by FM Sitharaman that could benefit the middle class 1)Standard deduction The standard deduction is a fixed sum that can be subtracted from taxable income—a larger deduction results in lower taxable income, which lowers taxes. 3) New tax slabs According to the MD & CEO at Optima Money Managers, the tax slabs in the new tax regime may also be revised as follows: Income up to ₹4 lakh – Nil ₹4 lakh to ₹8 lakh – 5% ₹8 lakh to ₹10 lakh – 10% ₹10 lakh to ₹12 lakh – 15% ₹12 lakh to ₹15 lakh – 20% Above ₹15 lakh – 30% These changes could make the new tax regime more attractive for taxpayers if implemented. Budget 2025: Making changes to old income tax regime unlikely The government is focusing on making the new tax regime more popular, and changes to the old regime are unlikely.

Finance Tax Budget Changes Income Middle Class Middle 2025 Class Lakh Regime Sitharaman Deduction Nirmala Sitharaman Mathpal  middle  lakh  deduction  2025  class  nirmala  tax  fm  budget  regime  income  changes  sitharaman  benefit

History of this topic

A Federal Dilemma: How The New Income Tax Bill 2025 Threatens State Revenues And Fiscal Autonomy
5 days, 15 hours ago

A Federal Dilemma: How The New Income Tax Bill 2025 Threatens State Revenues And Fiscal Autonomy

Live Law  

The New Income Tax Bill 2025 is regarded as a significant reform intended to streamline tax systems and enhance compliance. This article critically examines how the New Income Tax Bill 2025 jeopardizes fiscal federalism, the growing dependence on non-divisible surcharges and levies, and the potential risks states may soon face with diminishing financial strength and reduced fiscal autonomy. Although the …

New TDS, TCS rules 2025: Key changes impacting income taxpayers starting April 1. All you need to know
1 week, 6 days ago

New TDS, TCS rules 2025: Key changes impacting income taxpayers starting April 1. All you need to know

Live Mint  

The new income tax bill has changed the TDS and TCS rules several times. One of the key changes is the increase in TCS on foreign remittances under the Liberalized Remittance Scheme, which has risen from 20% to 22% for amounts over ₹7 lakh per year. Joint property purchasers also need to furnish PAN information of all joint owners to …

What are major changes in TDS and TCS rules from April 1? Here's what taxpayers must know
2 weeks, 2 days ago

What are major changes in TDS and TCS rules from April 1? Here's what taxpayers must know

India TV News  

What are major changes in TDS and TCS rules from April 1? Here's what taxpayers must know India’s taxation system is an evolving structure aimed at economic growth and equitable revenue distribution. With continuous reforms, the central government aims to simplify tax compliance, reduce the burden on taxpayers, and enhance ease of doing business. In a significant move to simplify …

Lok Sabha panel to record evidence of ICAI, EY representatives on Income Tax Bill
3 weeks, 2 days ago

Lok Sabha panel to record evidence of ICAI, EY representatives on Income Tax Bill

Hindustan Times  

The Select Committee of the Lok Sabha under the chairmanship of BJP Vice President and Lok Sabha MP Baijayant Panda will examine the Income-Tax Bill 2025 on March 6 and 7, 2025. Lok Sabha Speaker Om Birla constituted a 31-member Select Committee of Lok Sabha MPs to examine the new Income Tax Bill, which aims to simplify tax laws, modernise …

New Income tax bill 2025: MUST know tax refund rule during ITR filing
1 month ago

New Income tax bill 2025: MUST know tax refund rule during ITR filing

Live Mint  

The introduction of the Income Tax Bill 2025 in the Lok Sabha sparked concerns among taxpayers about their eligibility for refunds if they file their Income Tax Return after the due date. “Dear @taxguru_in, As explained in our FAQs, there are no policy changes in the provisions related to Refunds in the new Income Tax Bill, 2025,” the Income tax …

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

Income Tax: You can continue to avail THESE deductions in the new tax regime
1 month ago

Income Tax: You can continue to avail THESE deductions in the new tax regime

Live Mint  

With the new tax regime becoming increasingly prevalent and more common, taxpayers stand to lose their eligibility to claim most of the exemption and deductions offered under various provisions such as sections 80C, 80D, 80DD and 80G under the old tax regime. However, in the new tax regime, taxpayers can claim deductions only under a few situations which we have …

Income Tax Bill 2025: Changes under the new bill that taxpayers must know. Check FAQs
1 month ago

Income Tax Bill 2025: Changes under the new bill that taxpayers must know. Check FAQs

Live Mint  

On February 13, Finance Minister Nirmala Sitharaman introduced the Simplified Income Tax Bill 2025 in the Lok Sabha. Shefali Mundra, Tax Expert, at ClearTax, said there are several provisions under the Income Tax Bill 2025, the important ones are: The introduction of the concept of Tax Year Use of modern mechanisms for compliance and a more structured tax recovery structure …

New Income Tax bill: What is tax year and how is it different from assessment year?
Trending News
1 month ago

New Income Tax bill: What is tax year and how is it different from assessment year?

India Today  

Finance Minister Nirmala Sitharaman introduced the new Income Tax Bill in Lok Sabha on February 13. One of the key changes introduced in the New Income Tax Bill, 2025, pertains to the concept of the 'tax year.' Under the current Income Tax Act, 1961, all communications between taxpayers and the tax department refer to the 'Assessment Year,' which is the …

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 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 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, 1 week 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 …

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1 month, 1 week ago

New income tax bill: Why was there a need for a new legislation?

Live Mint  

The Income-Tax Bill 2025 was introduced in Lok Sabha on 13 February to replace the existing Act. Mint explains why the Income Tax Act needed an overhaul and why the amended bill is unlikely to upset taxpayers. Two attempts were made in the past to rewrite the tax law—in 2009 after a committee presented a draft direct taxes code together …

This Week in Explainers: How Ranveer Allahbadia and 'India’s Got Latent' trended for wrong reasons
Trending News
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This Week in Explainers: How Ranveer Allahbadia and 'India’s Got Latent' trended for wrong reasons

Firstpost  

Podcast host Ranveer Allahbadia, popularly known as BeerBiceps, landed in hot water after his inappropriate remarks on comic Samay Raina’s YouTube show, India’s Got Latent, went viral online. After PM Modi’s bilateral talks with Trump, the duo addressed a press conference during which the American president announced that the US would provide its F-35 stealth fighter jets to India. It …

A lowdown on simpler, shorter, crisper Income Tax Bill, 2025
1 month, 1 week ago

A lowdown on simpler, shorter, crisper Income Tax Bill, 2025

New Indian Express  

MUMBAI: The New Income Tax Bill 2025, which will replace the 1961 Act, is an attempt at simplifying the tax rules. Another key change is doing away with the 1,200 provisos and the 900 explanations - each change in taxation laws have been passed by Parliament and become part of existing Act - in the new Bill presented in the …

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1 month, 1 week ago

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

Live Mint  

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1 month, 1 week 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
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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, 1 week 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, 1 week 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, 1 week 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, 1 week 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 2025: Higher Exemptions, Simpler Rules, Easier Tax Filing – Here’s What Changes For You
1 month, 1 week ago

New Income Tax Bill 2025: Higher Exemptions, Simpler Rules, Easier Tax Filing – Here’s What Changes For You

ABP News  

New Income Tax Bill: Finance Minister Nirmala Sitharaman introduced the much-anticipated Income Tax Bill 2025 in the Lok Sabha on February 13. Key Changes Introduced Introduction of ‘Tax Year’ : The bill replaces technical terms like ‘assessment year’ and ‘previous year’ with the simpler ‘tax year,’ making it easier for taxpayers to understand. : The bill replaces technical terms like …

New Income Tax Bill introduced in Parliament: Read the key changes in the direct tax law
1 month, 1 week 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, 1 week 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, 1 week 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 …

New Income Tax Bill introduced in Lok Sabha
1 month, 1 week ago

New Income Tax Bill introduced in Lok Sabha

The Hindu  

Finance Minister Sitharaman on Thursday introduced the Income Tax Bill, 2025, in Lok Sabha amid Opposition parties objecting its introduction. While moving the Bill for introduction, she urged Speaker Om Birla to refer Income Tax Bill, 2025, to Select Committee of Lok Sabha. The much-anticipated Bill will replace terminologies such as “assessment year” and “previous year” with the easier-to understand …

New Income Tax Bill introduced by Nirmala Sitharaman in Parliament, Opposition stages walkout
1 month, 1 week ago

New Income Tax Bill introduced by Nirmala Sitharaman in Parliament, Opposition stages walkout

Hindustan Times  

Finance Minister Nirmala Sitharaman has tabled the Income Tax Bill 2025 in the Lok Sabha. Finance Minister Nirmala Sitharaman tabled the Income Tax Bill in the Lok Sabha on Thursday. Opposition raises objections Speaking on objection raised by Opposition MP from Kerala's Kollam, NK Premachandran, on the new bill having more sections than the previous Income Tax Act from 1961, …

Amid uproar over Waqf report, Sitharaman tables new Income Tax Bill in Parliament
Trending News
1 month, 1 week 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, 1 week 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, 1 week 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, 1 week 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, 1 week 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 …

Budget Session: FM Nirmala Sitharaman to table New Income Tax bill in Lok Sabha today. ‘Complicated’ says, Congress MP
1 month, 1 week ago

Budget Session: FM Nirmala Sitharaman to table New Income Tax bill in Lok Sabha today. ‘Complicated’ says, Congress MP

Live Mint  

Finance Minister Nirmala Sitharaman will table the Income Tax Bill 2025 in the Lok Sabha today, February 13. According to the agenda circulated by the Lok Sabha secretariat, Union Finance Minister Nirmala Sitharaman will introduce the Income Tax Bill 2025. Complicated bill says, Congress MP Congress leader Manish Tewari had called the Bill ‘complicated.’ “The Union Finance Minister had said …

Shashi Tharoor’s hilarious Coldplay jibe at Sitharaman’s income tax cuts: ‘Coldplay says fix you, FM says tax you’
1 month, 1 week ago

Shashi Tharoor’s hilarious Coldplay jibe at Sitharaman’s income tax cuts: ‘Coldplay says fix you, FM says tax you’

Live Mint  

Congress leader Shashi Tharoor took a witty dig at Finance Minister Nirmala Sitharaman’s Union Budget 2025, using a Coldplay-inspired metaphor. Known for his sharp humour, Tharoor critiqued the budget in an Instagram reel, saying, “Coldplay says ‘Fix You,’ but the Finance Minister says ‘Tax You.’” Tharoor quipped, “Even Chris Martin wouldn’t be able to find paradise in these numbers. But …

How will new Income Tax Bill, 2025, help you?
1 month, 1 week ago

How will new Income Tax Bill, 2025, help you?

Firstpost  

The new Income Tax Bill, 2025 will be tabled in Parliament today. The idea behind the new bill is to simplify taxation laws – currently governed by the Income Tax Act, 1961 – for the common man. As per Indian Express, the new income tax bill makes the language of the law simpler. Sandeep Jhunjhunwala, M&A Tax Partner at Nangia …

New Income Tax Bill: How will it make taxpayers' lives simpler?
1 month, 1 week 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, 1 week 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 …

Simplified I-T Bill likely to be tabled in Parliament today
1 month, 1 week 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: Concept Of "Tax Year" To Be Introduced Instead Of "Assessment Year", "Financial Year" To Remain Unchanged
1 month, 1 week ago

New Income Tax Bill 2025: Concept Of "Tax Year" To Be Introduced Instead Of "Assessment Year", "Financial Year" To Remain Unchanged

Live Law  

The new Income Tax bill is set to introduce the concept of 'Tax Year'. For the purposes of this Act, “tax year” means the twelve months period of the financial year commencing on the 1st April. Amortisation of certain preliminary expenses: As per the existing Income Tax Act, 1961, Section 35D states that where an assessee, being an Indian company …

New Income Tax Bill 2025: All FAQs on tax slabs, old vs new regime, and more answered
1 month, 1 week ago

New Income Tax Bill 2025: All FAQs on tax slabs, old vs new regime, and more answered

Live Mint  

Amid the new Income Tax Bill 2025, we answer several FAQs on tax slabs, the old vs. new regime, the new income tax rules, exemption limits, and more. Individuals earning up to ₹12 lakh annually will not have to pay any income tax under consideringthe new tax regime as Finance Minister Nirmala Sitharaman on Saturday gave relief to middle class …

New Income Tax Bill 2025: What are expected changes and how will they affect you?
1 month, 1 week ago

New Income Tax Bill 2025: What are expected changes and how will they affect you?

Hindustan Times  

The central government may table the new Income Tax Bill 2025 in Parliament on February 13. The bill proposes to replace the term ‘Financial Year’ with the term ‘Tax Year’ and do away with the term ‘Previous Year’. The term ‘Tax Year’ then will represent the 12-month period starting from April 1, aligning it with the financial year framework. The …

New Income Tax Bill 2025: This may still undergo several changes sooner than later
1 month, 1 week 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 …

New Income Tax Bill 2025 to have 622 pages, 536 sections; likely to be tabled in Parliament on Feb 13
1 month, 1 week ago

New Income Tax Bill 2025 to have 622 pages, 536 sections; likely to be tabled in Parliament on Feb 13

The Hindu  

A crispier and simplified Income Tax Bill 2025, having 536 sections, and 23 chapters running into 622 pages, is likely to be introduced in the Lok Sabha on Thursday. The Bill once enacted will replace six-decade old Income Tax Act 1961, which over the years became bulkier and complex with amendments. The Income Tax Bill, 2025 comprises 536 sections, higher …

Income Tax: ‘Assessment year’ to become ‘tax year’, govt to table new bill in Lok Sabha tomorrow
1 month, 1 week 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. …

23 chapters, 16 schedules and 536 clauses: Here is what the new Income Tax Bill says
1 month, 1 week ago

23 chapters, 16 schedules and 536 clauses: Here is what the new Income Tax Bill says

Live Mint  

The New Income Tax Bill, set to be presented in Parliament on Thursday, February 13, will span over 622 pages and aims to replace the six-decade-old Income Tax Act of 1961. The Income Tax Bill, 2025 comprises 536 sections, 16 schedules, 23 chapters, and 622 pages. Here is what the new Income Tax Bill says Section 19: Deductions from Salaries …

New Income Tax Bill: 23 chapters, 622 pages, 536 sections - Everything you need to know
Trending News
1 month, 1 week ago

New Income Tax Bill: 23 chapters, 622 pages, 536 sections - Everything you need to know

India TV News  

New Income Tax Bill: Finance Minister Nirmala Sitharaman, in her 2025-26 Budget speech, announced that the government will introduce a new Income Tax Bill in the Parliament. The new Income Tax Bill will replace the six-decade-old Income Tax Act of 1961. The Income Tax Bill, 2025 comprises 536 sections, higher than 298 sections of the current Income-Tax Act, 1961. New …

From reducing legal complexities to streamline compliance: How New Income Tax Bill to help taxpayers
1 month, 1 week 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 …

BJP wins Delhi polls, Tax bonanza for middle class in Union Budget, RBI cuts repo rate, and more: The week in 5 charts
1 month, 1 week ago

BJP wins Delhi polls, Tax bonanza for middle class in Union Budget, RBI cuts repo rate, and more: The week in 5 charts

The Hindu  

BJP returns to power in Delhi after 26 years The BJP on Saturday returned to power in Delhi after more than 26 years to sweep away the Arvind Kejriwal-led Aam Aadmi Party with a two-thirds majority on the back of a hyper localised campaign. Union Budget: No income tax up to ₹12 lakh, tax slabs revised Finance Minister Nirmala Sitharaman …

Simpler Filing Process To Faster Refunds: What New Income Tax Bill Could Bring
1 month, 1 week ago

Simpler Filing Process To Faster Refunds: What New Income Tax Bill Could Bring

ABP News  

The New Income Tax Bill is likely going to be introduced by Finance Minister Nirmala Sitharaman in the Lok Sabha today. Ankit Garg, CEO, Wealthy Nivesh, shared that the New Income Tax Bill is expected to remove the issues related to penalties, litigations, and ambiguities in the tax filing process. Sandeep Bhalla, Partner, Dhruva Advisors, explained that the new tax …

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