The new Income Tax bill will replace the existing Income Tax Act, 1961. The new bill is being brought to consolidate and ...
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Revamping the tax regime
Nirmala Sitharaman introduces the Income Tax Bill 2025 in Parliament, aiming to replace the 1961 Act with a more ...
Nirmala Sitharaman will table the new income tax bill in Lok Sabha on Thursday, February 12. Thereafter, it will be referred ...
The new law introduces 16 schedules and 23 chapters." The proposed legislation ... lakh annually won't have to pay any income tax under the new regime. Add to it the standard deduction of Rs ...
The new Income Tax Bill is more about consolidation of scattered tax provisions, simplification and elimination of redundant laws than about rate ir ...
New Income Tax Bill 2025 LIVE Updates: The new Income-Tax (I-T) Bill, announced by Finance Minister Nirmala Sitharaman during ...
The new bill has also provided repeals and savings clause to ensure that rights and benefits accrued to the taxpayers under ...
The bill focuses on simplification, clarity and ease of compliance for taxpayers while retaining the fundamental structure of the tax system. The bill consists of 536 sections, 23 chapters and 16 ...
The Income Tax Act 2025 will replace the current Income Tax Act 1961. As the current income tax laws will change, many ...
The current income tax bill which was enacted in 1961, and came into effect in 1962, consisted of 512,535 words and 819 ...
Finance Minister Nirmala Sitharaman to introduce the Income-Tax Bill, 2025 in Lok Sabha, focusing on clarity, simplicity, and ...
The new legislation, scheduled to come into effect from April 1, 2026, aims to simplify tax structures, enhance compliance, and curb tax evasion.The Bill introduces 16 schedules and 23 chapters ...