What changes in the new Income Tax Bill 2025? Key highlights explained
Simplified Income Tax Bill brings in 'tax year' concept; omits 'previous year', obsolete clauses (Eds: Updating with details)
New Income-Tax Bill: Simplified, shorter, new concept of ‘tax year’
The Bill, which is likely to be introduced in Parliament on Thursday, has now defined a new concept of ‘tax year’ as the 12-month period beginning from April 1.
Reader Friendly, Tables For Calculation Among Key Features Of New Income Tax Bill
The simplified Income Tax Bill 2025, which brings in the concept of 'tax year' and abolishes the archaic and complicated terms 'previous' and 'assessment years', is likely to be introduced in Parliament on Thursday.
New Income Tax Bill 2025: No More Assessment/Financial Year, Other Changes And Key Features Of The 622-Page Document
The New Income Tax Bill, 2025, is all set to be introduced in the Lok Sabha this week. The new bill will replace the old Income Tax Act of 1961. Before the introduction of the bill, some key details from the bill's draft emerged.
No need to wait for Budget for Income Tax Relief! New Income Tax Bill may have unique features, likely to get cabinet nod today
Apart from tax relief provisions, the bill may introduce several structural and linguistic reforms. Such as replacing the term “Assessment Year” with “Tax Year”, eliminating British era references like “notwithstanding”,
What Is The New Income Tax Bill 2025? Explained
The New Income Tax Bill 2025 aims to simplify tax laws, improve compliance, and reduce disputes. Key features include simplified provisions, trust-based systems, and higher exemptions, providing clari
Why New Income-Tax Bill 2025 Is Much-Needed Reform, Reducing Word Count From 5 Lakh To 2.5 Lakh; Check Key Features
To ensure greater clarity, the bill also includes tables, examples, and formulas to explain tax provisions to make it easier for individuals and businesses to interpret.
New Income Tax Bill
No major tax policy changes to ensure continuity and certainty. 3. No modifications of tax rates, preserving predictability for taxpayers. New Income Tax Bill 2025 Live: Single concept of a tax year is easy to understand At first blush,
India to present new bill in Parliament to replace decades-old income tax law
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.
New Income Tax Bill, 2025, set to replace 1961 Act from Apr 2026
The Income Tax Bill, 2025, which is expected to be tabled in Parliament soon, will come into effect from April 1, 2026, replacing the Income Tax Act, 1961, Business Standard.
New Income Tax Bill 2005 soon: Here are top points on taxpayers, tax deadlines, pension, investors, cryptos
The main objective of the new income tax bill is to streamline the existing Income Tax Act of 1961 to enhance comprehension of income tax laws among the general public and minimise legal disputes.
Tax season: How to avoid scams and how the IRS is making filing easier with new tools
The tax filing season kicked off on Jan 27, with the Internal Revenue Service accepting returns. Taxpayers could face ...
Union Budget 2025: 20 key features
Finance minister Nirmala Sitharaman on Saturday announced a significant change in income tax policy during the Union Budget ...