One key update is the introduction of a “tax year,” which refers to the 12-month period starting from April 1, effectively ...

Here’s a table showing a comparison of old vs new regime with the income level and deductions. If you have deductions more ...

Definitions, provisions and explanations have all been simplified. This will reduce the scope for litigation and make the Act ...

The new bill has also provided repeals and savings clause to ensure that rights and benefits accrued to the taxpayers under ...

It simplies the country’s income tax law to make it easier to grasp, enhance compliance and reduce litigation. While it makes ...

The Income-tax Bill cuts some clutter of the existing Act and introduces new illustrative tables, while maintaining ...

Finance minister Nirmala Sitharaman defended the income tax relief for the 2025-26 budget, highlighting its benefits for all ...

Assisted by Nikky Jhamtani, managing associate, & associates Shinjani Agnihotri and Lopamudra Mahapatra, BMR Legal Advocates.

Finance Minister Sitharaman introduces Income Tax Bill, 2025, in Lok Sabha amid opposition parties opposing its introduction. Sitharaman also urged the speaker to refer Income Tax Bill, 2025, to ...

Nirmala Sitharaman introduces the Income Tax Bill 2025 in Parliament, aiming to replace the 1961 Act with a more ...

With its focus on clarity and simplicity, the new Bill will lead to a more accessible and responsible tax system ...