Lok Sabha Speaker Om Birla constituted a 31-member Select Committee of Lok Sabha MPs to examine the new Income Tax Bill, which aims to simplify tax laws, modernise definitions, and provide more ...

Definitions, provisions and explanations have all been simplified. This will reduce the scope for litigation and make the Act ...

The bill is expected to streamline existing provisions and simplify compliance for taxpayers. For more on what to expect from ...

Finance Minister Nirmala Sitharaman on Wednesday (13 February 2025) tabled the much talked about  New Income Tax Bill 2025 in ...

Finance Minister Sitharaman introduces Income Tax Bill, 2025, in Lok Sabha amid opposition parties opposing its introduction.

Finance Minister Nirmala Sitharaman is scheduled to introduce the new Income Tax Bill in the Lok Sabha on Thursday as part o ...

The new Income Tax Bill, 2025 will be tabled in Parliament today (). The idea behind the new bill is to simplify taxation laws – currently governed by the Income Tax Act, 1961 – for the common man.

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

Once introduced in the Lok Sabha, the Bill will be sent to the Parliamentary Standing Committee on Finance for further ...

The Income Tax Bill, 2025 comprises 536 sections, higher than 298 sections of the current Income-Tax Act, 1961. The existing ...