New Income Tax bill explained

New Income Tax Bill 2025: What changes, what remains, and how it may impact tax payers
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 – New ray of hope!
The new income-tax bill, set to be implemented on 1 April 2026, aims to streamline and simplify the tax code. Expected to reduce litigation, the bill introduces clearer language and easier understanding for taxpayers and tax authorities.
New Income Tax Bill 2025 explained: 10 key takeaways for taxpayers - top points you should know
The proposed Income Tax Bill, 2025 aims to simplify the tax system with a reduction in sections and word count, introduce a clear tax year, and make legal language more understandable. Changes include streamlined TDS rules and reorganized provisions for salary and exempt incomes.
What’s new in the Income Tax Bill, 2025
The Income-tax Bill cuts some clutter of the existing Act and introduces new illustrative tables, while maintaining continuity in most aspects. There are no major tweaks in penalty or compliance provi
Income Tax Bill 2025 - Overview & Key Points
Explore overview of Income Tax Bill 2025, major tax reform simplifies laws, enhances compliance, & introduces digital integration for a transparent system.
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.
Simplified Income Tax Bill: A New Era in Tax Legislation
The newly introduced Income Tax Bill seeks to simplify tax legislation by minimizing litigation and interpretation, reducing the word count, sections, and chapters significantly from its 1961 predecessor.
Kentucky lawmakers send bill to cut the state's income tax to the governor. He supports it.
Final passage came on a 34-3 Senate vote to lower the tax to 3.5% from 4% at the start of 2026. The bill goes to Democratic Gov. Andy Beshear, who has said he supports the tax cut. It continues a downward trend in the personal income tax since the GOP gained full control of the legislature in 2017.
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,
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 presented the new Income-Tax Bill 2025 in ...
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 ...
Income-Tax Bill 2025 introduced in Lok Sabha, promises simplicity
The Finance Minister recommended that the bill be sent to a select committee of Parliament for further scrutiny, with the committee's report due on the first day of the next session. Responding to ...
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 ...
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New Income Tax Bill more complicated than previous one, says Congress MP Manish Tewari
Congress MP Manish Tewari on Thursday criticized the new Income Tax Bill, arguing that, contrary to Union Finance Minister ...