New Income Tax bill explained

Mint Explainer | New income tax bill: Why was there a need for a new legislation?
The new income tax Bill aims to simplify India's tax law, eliminating redundancies and improving readability without altering its core principles. But does it go far enough? Mint explains
New Income Tax Bill 2025 explained: Top 30 FAQs every taxpayer should check
The new bill aims to simplify tax provisions with clearer language, reducing its length and eliminating redundant sections while consolidating related content for easier understanding and compliance.
Are you required to choose the New Tax Regime once more in the 2025 Income-Tax Bill? What's the scope for Old Tax Regime
Taxpayers who have already selected the new tax regime in the Income-Tax Act 1961 will not need to choose it again in the upcoming Income Tax Bill 2025. The current regulations for selecting a tax regime will remain unchanged in the new bill.
Income Tax department activates section wise mapping of I-T Act, Tax bill
In a post on X, the department on February 14 said it has activated the utility to check Section of the Income Tax Act, 1961, vis-a-vis corresponding clause of the new Income Tax Bill. A taxpayer can select the section of I-T Act, 1961, from a drop down menu and accordingly the corresponding clause in the I-T Bill will appear.
Income Tax Bill 2025 - Overview & Key Points
Explore overview of Income Tax Bill 2025, major tax reform simplifies laws, enhances compliance, & introduces digital integration for a transparent system.
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.
India makes tax filing easier with new Income Tax Bill 2025
Dubai: After raising the no income tax limit for residents to Rs1.2 million, India has now brought out an updated Income Tax Bill – and made the whole process of tax filings much simpler. “The Rs1.2 million tax-free income is a big deal indeed compared to the earlier Rs300,
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New income tax bill: Government has abolished 80C, now how to get the benefit of Rs 1.5 lakh through ELSS, PPF, NPS?
Finance Minister Nirmala Sitharaman introduced the new Income Tax Bill in the Lok Sabha on February 13. This bill is ...
College athletes could get tax breaks under new NIL bill: Will it boost Alabama’s recruiting?
If passed, the legislation would exempt college athletes from paying state income tax on their NIL compensation.
ICAI backs Income Tax Bill 2025, calls it a boost for economic growth and MSMEs
ICAI supports new Income Tax Bill 2025 to simplify tax framework, stimulate growth, and assist members with understanding.
Tariffs May Add $1,700 To Average Tax Bill, Hike Prices And Cut Income, Say Experts
Higher tariffs could worsen the squeeze on American families by increasing their taxes, lowering their income, and requiring ...
Beshear signs bill lowering individual income tax in Kentucky
Bookmark this list of noteworthy bills and check back for updates through the 2025 Kentucky legislative session.
New Income Tax Bill omits deduction for inter-corporate dividends under concessional rate
Income Tax Bill 2025 eliminates deduction for inter-corporate dividends for companies opting for 22% tax rate, causing double ...
New Income Tax Bill 2025 Highlights: FM Nirmala Sitharaman introduced new I-T Bill in Lok Sabha
New Income Tax Bill 2025 Highlights: Union Finance Minister Nirmala Sitharaman presented the new Income-Tax Bill 2025 in Lok ...
New Income Tax Bill: No changes in capital gains tax structure, but language simplified
Under the new Income Tax Bill, 2025, Clauses 196, 197, 198 will deal with capital gains, and cryptocurrency has now formally ...