To promote infrastructure development, section 80IA was brought into Income-tax Act, 1961.

The new income tax bill, compared to Income Tax Act, 1961, is nearly half the size, containing 259,676 words, 23 chapters, 536 sections, 57 tables and 46 formulae.

Taxpayers who have already selected the new tax regime in the Income-Tax Act 1961 will not need to choose it again in the ...

The Income Tax Bill 2025 retains the virtual digital asset definition while incorporating Finance Bill 2025 amendments.

New Income Tax Bill 2025 LIVE Updates: Union Finance Minister Nirmala Sitharaman has presented the new Income-Tax Bill 2025 ...

The simplified Income Tax Bill, which is half the size of the 1961 Income Tax Act, seeks to achieve tax certainty by ...

The new Income Tax Bill aims to simplify language by replacing complex terms with easier alternatives. Spanning 622 pages, it ...

It comes under the Department of Revenue ... paid by NRIs on business income, the budget encompasses all the rates and levies. That’s the tax structure of India for you in a nutshell.

The copy of the New Income Tax Bill 2025 (“ITB”) has been made available to the Members of Parliament (MPs) on 12 February ...

Ans: As noted above, the total words in the new Income Tax Bill, 2025 are around 2.6 lakhs, as against 5.12 lakh words in the ...

This is the third consecutive year that the budget has been presented directly in the House instead of the Standing Committee ...

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