Currently, the Income Tax Act refers to the year of earning taxable income as the ‘previous year’ and the year when the tax ...

New Income Tax Bill retains provisions from 1961 Act, offers flexibility, transparency, and aims to simplify tax laws.

The main objective of the new income tax bill is to streamline the existing Income Tax Act of 1961 to enhance comprehension of income tax laws among the general public and minimise legal disputes.

Simplified Income Tax Bill brings in 'tax year' concept; omits 'previous year', obsolete clauses (Eds: Updating with details) ...

India's new Income Tax Bill aims to simplify tax laws, reduce litigation, and improve compliance by eliminating obsolete ...

The new income tax bill announced by Finance Minister Nirmala Sitharaman in the Union Budget, is expected to be presented in ...

Shorter, simpler and 'crisper' new legislation proposes two more schedules and almost doubles the sections under original ...

The upcoming Income Tax Bill, set to be introduced in the Lok Sabha on Thursday, proposes replacing the term ‘previous year’ ...

The new Income Tax Act 2025 is more exhaustive than its predecessor, with 536 sections and 16 schedules spread over more than ...

The bill consists of 23 chapters, 16 schedules, and 536 clauses, covering a broad spectrum of tax-related provisions.

The Income Tax Bill, 2025, will be tabled in Parliament on Thursday. Learn about its key highlights, including simplification ...