New Income Tax bill explained

New Income Tax Bill 2025: What is special in the new income tax bill, understand the whole thing in 10 points..
Finance Minister Nirmala Sitharaman has introduced the new Income Tax Bill. Its purpose is to remove the complexities of the existing Income Tax Act and make it easier for taxpayers. This bill has also been passed in the Lok Sabha.
New Income Tax Bill 2025: What changes, what remains, and how it may impact taxpayers
One key update is the introduction of a “tax year,” which refers to the 12-month period starting from April 1, effectively replacing the term “assessment year.”
New Income Tax Bill 2025
Finance Minister Nirmala Sitharaman introduced the new Income Tax Bill, 2025, aiming to simplify tax laws and encourage voluntary compliance. The bill, reduced to 622 pages, replaces complex provisions with clearer ones and introduces terms like 'tax year'.
Income Tax Bill 2025: Key changes every taxpayer needs to know; check details
The income tax return filing deadlines, income tax slabs, and capital gains taxations remain unchanged, as outlined in Budget 2025, to provide tax certainty for taxpayers.
India's new income tax bill proposes broad access to taxpayers' devices, social media accounts
India's new income tax bill proposes sweeping powers for authorities to access taxpayers' emails, trading and social media accounts during searches, activities which are not covered in the current tax law.
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,
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.
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.
Income-Tax Bill 2025: How provisions, sections for senior citizens have been covered under the new bill
In accordance with section 153 of the Income-Tax Bill 2025, senior citizens are eligible to claim a tax deduction of Rs ...
New Income Tax Bill 2025 LIVE Updates: FM Nirmala Sitharaman introduced new I-T Bill in Lok Sabha
New Income Tax Bill 2025 LIVE Updates: Union Finance Minister Nirmala Sitharaman has presented the new Income-Tax Bill 2025 ...
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Income Tax Dept releases FAQs on new Income Tax Bill, 2025: Check details
To promote infrastructure development, section 80IA was brought into Income-tax Act, 1961.
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 ...
New Income Tax Bill mandates sharing ’access codes’ with tax officials during search and seizure, says Report
According to a report, the new tax code bill tabled by Finance Minister Nirmala Sitharaman mandates sharing access codes with ...
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.
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.
LS Speaker constitutes 31-member select committee to study Income Tax Bill, 2025; appoints Baijayant Panda as chairperson
Birla also appointed BJP's Kendrapara MP Baijayant Panda as the chairperson of the 31-member select committee that includes ...