The Income Tax Bill 2025, a document of 622 pages comprising 536 sections and 23 chapters, is anticipated to be introduced in the Lok Sabha on Thursday, February 13, 2025. Once enacted, the proposed bill will replace the six-decade-old Income Tax Act of 1961, which has become increasingly complex and cumbersome due to numerous amendments.

Introduced in 2020, the new tax regime became a default regime in 2023. To be able to file tax return under the old tax regime and claim tax exemption, one has to first opt out of the new tax regime f

The proposed changes could substantially increase the disposable income available to both middle-class and high-income earners. The benefit will be more pronounced at the bottom of the income pyramid.

New Income Tax Bill retains provisions from 1961 Act, offers flexibility, transparency, and aims to simplify tax laws.

Income Tax Slabs FY 2025-25 New versus Old Income Tax Regime: Finance Minister Nirmala Sitharaman announced significant income tax relief for the midd

The new Income Tax Bill will replace the current Income Tax Act, once it becomes effective from April 1, 2026. However, many taxpayers are worried that the new tax bill has made any changes in the income tax slabs under old and new tax regimes.

India will introduce a new condensed version of its income tax law in the lower house of the Parliament on Thursday, which aims to simplify the six decades old rules that have led to a slew of litigations.

The government has shared a list of frequently asked questions that taxpayers may pose after reading the Income Tax Bill 2025. Read on to know what they are.

Finance Minister Nirmala Sitharaman , in her Union Budget 2025 speech, announced a historic move—the introduction of a new Income Tax Bill to replace the six-decade-old Income Tax Act of 1961.Today, the bill has been officially tabled in Parliament,

The Income Tax Bill 2025, has 57 tables, compared to 18 in the existing I-T Act of 1961 and removed 1,200 provisos and 900 explanations.