MUMBAI: The New Income Tax Bill 2025, which will replace the 1961 Act, is an attempt at simplifying the tax rules. While the ...

The concept of ‘tax year’ has been introduced replacing ‘previous year’ and ‘assessment year’ in the new Income Tax Bill ...

Simplification: The provisions under the Income Tax Bill, 2025, have clearer language and cater to modern work scenarios, ...

The new Income Tax Bill 2025 consolidates salary provisions for clarity, incorporating previous deductions into the salary ...

The new Income Tax Bill, 2025 aims to simplify language, reduce litigation, and lower compliance burdens. It introduces ...

The objective of the new Bill is to streamline the Income Tax Act, making it more succinct, understandable, and user-friendly ...

Under the new bill, the draft proposes a standard deduction of Rs 75,000 or the salary, whichever is less, where income is ...