New Income Tax Bill to Simplify Compliance
1 month, 2 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, 1961, has been drafted within 6 months and efforts have been made to simplify the language to help taxpayers understand. The new bill, which was announced by Union finance Minister Nirmala Sitharaman in her Budget speech, will also incorporate the changes made in income tax rates, slabs and in tax deducted at source or TDS provisions made in the Budget for 2025-26 Finance secretary Tuhin Kanta Pandey on Thursday said that when you see next week a new income tax Bill, you would see a very different Bill.

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Steep cut in tax won’t be rolled back, FM tells LS
11 hours, 2 minutes 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 …

A Federal Dilemma: How The New Income Tax Bill 2025 Threatens State Revenues And Fiscal Autonomy
1 week, 2 days 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 …

Claims that new powers being introduced in new income tax bill incorrect: Sources
2 weeks, 3 days ago

Claims that new powers being introduced in new income tax bill incorrect: Sources

Live Mint  

New Delhi, March 9 : Sources in the Central Board of Direct Taxes have sought to clear the air after some concerns were raised that Income Tax authorities have been given additional powers in the Income Tax Bill 2025 to gain overriding access to the electronic records including email, social media, and virtual digital space. Similarly, Section 247 of the …

New TDS, TCS rules 2025: Key changes impacting income taxpayers starting April 1. All you need to know
2 weeks, 3 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 …

New Income Tax Bill Proposes To Allow IT Officers To Access Social Media, E-mail Accounts Of Assessees During Scrutiny
Trending News
2 weeks, 6 days ago

New Income Tax Bill Proposes To Allow IT Officers To Access Social Media, E-mail Accounts Of Assessees During Scrutiny

Live Law  

Recently, the new Income Tax Bill 2025 was introduced in Parliament. Although touted as a step to make Income tax law in India simpler, the Bill contains some provisions which may disturb taxpayers by infringing on their right to privacy. One such provision in the new Bill would allow the Income tax department to access the email, trading account, social …

Lok Sabha panel to record evidence of ICAI, EY representatives on Income Tax Bill
3 weeks, 5 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: Is this an old wine in a new bottle? Experts say this…
1 month ago

New Income Tax Bill: Is this an old wine in a new bottle? Experts say this…

Live Mint  

Union Finance Minister Nirmala Sitharaman on Feb 13 tabled the new Income Tax Bill in the Parliament. While the existing law has 823 pages as amended in 2024 whereas the new income tax bill is spread across 622 pages. There are some experts who believe that this new law is an old wine in the new bottle, which lacks novel …

Income Tax Bill 2025: New Bill clarifies carry forward of house property losses
1 month ago

Income Tax Bill 2025: New Bill clarifies carry forward of house property losses

Hindustan Times  

The New Income Tax Bill 2025, which aims to replace the Income Tax Act 1961, seeks to simplify and simplify tax rules. “The remaining loss can be carried forward for the next eight years, but it can only be adjusted against income from the house property in those years. Capital Gains Exemption On Property Sale “Capital gains exemption is provided …

New Income tax bill 2025: MUST know tax refund rule during ITR filing
1 month, 1 week 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, 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 Bill: 10 FAQs you should know
1 month, 1 week ago

New Income Tax Bill: 10 FAQs you should know

India Today  

With the New Income Tax Bill 2025 set to replace the existing Income Tax Act of 1961, the Income Tax Department has released a set of frequently asked questions to help taxpayers understand the new bill. Let us look at the 10 FAQs regarding the New Income Tax Bill 2025. What is the difference in the number of chapters, sections …

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

New Income Tax Bill: Taxpayers can find the relevant provision through section-wise mapping utility. Check here
1 month, 1 week ago

New Income Tax Bill: Taxpayers can find the relevant provision through section-wise mapping utility. Check here

Live Mint  

The income tax department has launched the utility to enable taxpayers to check the relevant provision of the new income tax Bill. The new income tax Bill was introduced in the Parliament on Thursday and it will now be referred to the Select Committee of Lok Sabha for further review. Taxpayers can check the utility to check section of income …

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 …

Income Tax department activates section wise mapping of I-T Act, Tax bill
1 month, 1 week 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. …

New income tax bill: Why was there a need for a new legislation?
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
1 month, 1 week ago

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 …

This Week in Explainers: How Ranveer Allahbadia and 'India’s Got Latent' trended for wrong reasons
1 month, 1 week ago

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. Here’s all this and more in our weekly roundup from India Ranveer Allahbadia is facing legal woes over controversial comments on India's Got Latent. It all started after a clip of YouTuber …

Lok Sabha Speaker constitutes committee to examine new Income Tax bill
Trending News
1 month, 1 week ago

Lok Sabha Speaker constitutes committee to examine new Income Tax bill

India Today  

A day after Union Finance Minister Nirmala Sitharaman tabled the new Income Tax Bill in the Lok Sabha, House Speaker Om Birla constituted a Select Committee to examine the bill. Apart from Panda, the committee also comprises BJP MPs Nishikant Dubey, Jagadish Shettar, Sudhir Gupta, Anil Baluni, Shashank Mani, Naveen Jindal, Anurag Sharma, Congress MPs Deependra Hooda, Benny Behanan, Trinamool …

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 …

Income Tax Bill 2025: Tax year vs assessment year vs financial year vs calendar year - Difference explained
Trending News
1 month, 1 week ago

Income Tax Bill 2025: Tax year vs assessment year vs financial year vs calendar year - Difference explained

India TV News  

The Income Tax Bill 2025 has been introduced in the Lok Sabha by Finance Minister Nirmala Sitharaman. The Bill will also replace terminologies such as "assessment year" and "previous year" with the easier-to-understand "tax year" as part of a move to simplify language. Tax Year and Financial Year As per the draft Income Tax Bill 2025, the tax year is …

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

Mint Quick Edit | Finally, a tax law we may be able to grasp
1 month, 1 week ago

Mint Quick Edit | Finally, a tax law we may be able to grasp

Live Mint  

A new income tax bill was finally placed before Indian lawmakers in Parliament on Thursday. This proposed law significantly cuts down the current legislation’s text, reduces its number of sections and tries to simplify its language. Terms like “assessment year" and “previous year" have been replaced with “tax year" and “financial year", respectively, for example. Similarly, its content has been …

I-T bill to simplify tax framework: FM in LS
1 month, 1 week ago

I-T bill to simplify tax framework: FM in LS

Hindustan Times  

Union finance minister Nirmala Sitharaman on Thursday introduced the Income-Tax Bill, 2025 in the Lok Sabha aiming to abridge the bulky direct tax act and make it simple, and urged the speaker to refer it to a select committee of the house, a request that the Opposition objected to because it wants the bill to be referred to a standing …

Lok Sabha Speaker constitutes Select Committee to examine New Income Tax Bill, Baijayant Panda named chairman
Trending News
1 month, 1 week ago

Lok Sabha Speaker constitutes Select Committee to examine New Income Tax Bill, Baijayant Panda named chairman

India TV News  

New Income Tax Bill: Lok Sabha Speaker Om Birla has constituted a Select Committee to examine the New Income Tax Bill, 2025. Check full list of members here: New Income Tax Bill introduced in Lok Sabha Earlier on February 13, Union Finance Minister Nirmala Sitharaman introduced the Income Tax Bill, 2025, in the Lok Sabha and urged Speaker Om Birla …

New Income Tax bill: Has it really been simplified for taxpayers?
1 month, 1 week ago

New Income Tax bill: Has it really been simplified for taxpayers?

India Today  

In the Union Budget 2025, the Finance Minister announced tax relief measures for taxpayers. Alongside this, she introduced a new Income Tax Bill in the Lok Sabha on Thursday, aiming to replace the existing law and make tax compliance easier. The proposed income tax bill seeks to simplify and revamp the Income Tax Act of 1961, which has often been …

New income tax bill: All your questions answered
1 month, 1 week 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, 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.” …

New Income Tax Bill mandates sharing ’access codes’ with tax officials during search and seizure, says Report
1 month, 1 week ago

New Income Tax Bill mandates sharing ’access codes’ with tax officials during search and seizure, says Report

Live Mint  

New Income Tax Bill: Finance Minister Nirmala Sitharaman tabled the long-awaited bill for the new tax code in the Lok Sabha on Thursday, February 13. What does the new Income Tax Bill say about search and seizure rules One of the major criticisms of the existing Income Tax Act was the broad powers it granted to tax officials, allowing them …

New Income Tax Bill 2025: FAQs issued on provisions for salaried taxpayers, virtual digital assets & more — details
1 month, 1 week ago

New Income Tax Bill 2025: FAQs issued on provisions for salaried taxpayers, virtual digital assets & more — details

Live Mint  

Union Minister Finance Minister Nirmala Sitharaman presented the new Income Tax Bill 2025 in the Lok Sabha on Thursday, February 2025. Why is it that on comparison of new Income Tax Bill and earlier provisions, it is found that in some cases viz ‘virtual digital assets’, etc there are certain changes? Therefore, the users are advised to compare the provisions …

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, half the size of 1961 I-T Act, built on core ‘SIMPLE’ principles: What are they?
1 month, 1 week ago

New Income Tax Bill, half the size of 1961 I-T Act, built on core ‘SIMPLE’ principles: What are they?

Live Mint  

New Income Tax Bill 2025: The simplified Income Tax Bill, half the size of the 1961 Income Tax Act, seeks to achieve tax certainty by minimising the scope of litigation and fresh interpretation, said the Income Tax department on Thursday, February 13. According to the I-T department, the tax bill aims to simplify the tax system based on six core …

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 …

What to expect from the new income tax law: Simplicity, tax certainty, reduced litigation
1 month, 1 week 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 …

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