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new income tax bill

New I-T Bill to simplify tax framwork, help boost MSME growth: ICAI

New I-T Bill to simplify tax framwork, help boost MSME growth: IC...

Fri, Feb 14, 2025

Introduced in Lok Sabha on Thursday, the bill seeks to achieve tax certainty by minimising the scope of litigation and fresh interpretation.

New Income Tax Bill: Section 80C that includes deductions like NPS, ELSS, ULIP is now Clause 123; check out details

New Income Tax Bill: Section 80C that includes deductions like NP...

Fri, Feb 14, 2025

Section 80C: Deductions like investment in equity-linked saving schemes (ELSS), public provident funds (PPF), life insurance premiums, National Pension System (NPS) tax-saver deposits, Unit Linked Insurance Plan (ULIP) and more are covered in this section.

New Income Tax Bill 2025: What changes, what remains, and how it may impact taxpayers

New Income Tax Bill 2025: What changes, what remains, and how it...

Fri, Feb 14, 2025

New Income Tax Bill 2025: 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.”

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New Income Tax Bill: Finance Minister Nirmala Sitharaman introduces I-T Bill 2025 in Parliament today; here's what you need to know

New Income Tax Bill: Finance Minister Nirmala Sitharaman introduc...

Thu, Feb 13, 2025

The present Income Tax Act contains 52 chapters and 1,647 pages. The revised bill is projected to be far shorter, with only 23 chapters, 536 sections, and 622 pages.

New Income Tax Bill: FM to introduce I-T Bill 2025 in Parliament on Thursday—5 things to know

New Income Tax Bill: FM to introduce I-T Bill 2025 in Parliament...

Wed, Feb 12, 2025

Income Tax Bill 2025: Finance Minister Nirmala Sitharaman is set to introduce the Income Tax Bill 2025 in the Lok Sabha on Thursday, February 13. Once enacted, the the law will replace the six-decade old Income Tax Act 1961.

New Income Tax Law: Small business owners & professionals set to get relief, says sources

New Income Tax Law: Small business owners & professionals set...

Wed, Feb 12, 2025

The New Income Tax Bill—or the new direct tax code—is part of the Narendra Modi administration’s ambitious goal of overhauling and simplifying the country’s existing tax structure in order to ease tax compliance for its growing tax base.

New income tax bill likely to be tabled in Parliament on February 13; to be effective from April 1, 2026

New income tax bill likely to be tabled in Parliament on February...

Wed, Feb 12, 2025

The new income tax bill is made up of 622 pages, and words have been reduced from six lakh words to three lakh words.

What New Income Tax Bill Could Bring? How it could impact taxpayers?

What New Income Tax Bill Could Bring? How it could impact taxpaye...

Mon, Feb 10, 2025

New Income Tax Bill : The current Income Tax Act (Income Tax Act 1961) has been in force since 1961. Now it will be completely abolished and a new law will be brought, which will be updated as per the current times. sources told that A new 'tax year' may also be implemented. The government is considering merging the assessment year and financial year. With this, the rules of tax filing will become easier and streamlined.

What changes can we expect in the new Tax Law?

What changes can we expect in the new Tax Law?

Mon, Feb 10, 2025

The Cabinet has approved the new Income Tax Bill and the government can present it in the Parliament tomorrow, what will be new in the new Tax Law, know here

India with Budget 2025: New Income Tax Law cleared by Cabinet, says Finance Minister

India with Budget 2025: New Income Tax Law cleared by Cabinet, sa...

Sat, Feb 08, 2025

India with Budget 2025: The new income tax law, which will replace the six-decade-old Income Tax Act, is expected to be introduced in the Lok Sabha next week, according to Finance Minister Nirmala Sitharaman's statement on Saturday.

New I-T bill not to have provisos, explanations; may come up in Cabinet

New I-T bill not to have provisos, explanations; may come up in C...

Thu, Feb 06, 2025

The new income tax bill, to be introduced in Parliament next week, will not have long sentences, provisos and explanations, Finance Secretary Tuhin Kanta Pandey said on Thursday.

Give suggestions on new income tax bill: CBDT Chief Ravi Agrawal to industry

Give suggestions on new income tax bill: CBDT Chief Ravi Agrawal...

Mon, Feb 03, 2025

Central Board of Direct Taxes (CBDT) Chief Ravi Agrawal said that the new bill has been drafted in such a way that it meets international standards.

Budget 2025: New income tax Bill to be tabled in Parliament next week, says FM Nirmala Sitharaman

Budget 2025: New income tax Bill to be tabled in Parliament next...

Sun, Feb 02, 2025

Budget 2025: Key structural changes, such as adjustments to tax slabs, a rationalisation of deductions, and other incentives to spur economic growth, are anticipated to be introduced under the proposed Bill.

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