The New Income Tax Bill, 2025 — expected to be introduced in the Lok Sabha on Thursday — proposes the introduction of a “ tax year ” and the replacement of textual definitions with formulae to simplify the six-decade-old law....
In a statement of objects and reasons included in the Bill, Finance Minister Nirmala Sitharaman said the Income Tax Bill, 2025, aims to make tax laws concise, clear, and easier to understand....
“ The Income-tax Act passed in 1961 has been subjected to numerous amendme
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2025-02-12 00:00:00.0