The proposed Income Tax Bill, 2025 aims to simplify the tax system with a reduction in sections and word count, in ...

The proposed bill does not change tax rates. Instead, it focuses on three key improvements: simplifying language for better ...

Different indirect taxes were subsumed in the Goods and Services Tax, which took effect on July 1, 2017. The new Income Tax ...

Union finance minister Nirmala Sitharaman on Thursday introduced the Income-Tax Bill, 2025 in the Lok Sabha aiming to abridge ...

Explore overview of Income Tax Bill 2025, major tax reform simplifies laws, enhances compliance, & introduces digital ...

The Bill has been referred to a select committee for further scrutiny. The committee, which will examine the proposed changes ...

As compared to the Income Tax Act, 1961, the new Income Tax Bill 2025 proposes to remove proviso and explanations, and ...

The new legislation simplifies language, aligns 'tax year' with the financial year, and maintains structural elements and ...

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

Less: Exemptions on Salary income (other than HRA) which are not allowed under New Regime (e.g. Leave travel allowance, Education allowance, Hostel allowance etc.) Less: Exemptions on Salary ...

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