New Income Tax Bill PDF: Top 5 highlights of newly-introduced Income Tax Bill 2025 in Lok Sabha
The new bill will replace the current Income Tax Act, 1961, and will become effective from April 1, 2026, i.e., from FY ...
sambadenglish1d
New simpler Income Tax Bill slashes volume of Income Tax Act, 1961 by half
The Income-Tax Bill, 2025 tabled in Parliament on Thursday, marks a significant step toward simplifying the language and structure of the Income-tax Act, 1961 based on global best practices, according ...
Income Tax Bill 2025 vs Income Tax Act 1961: What all has changed under the new bill; check FAQs
The objective of the new Bill is to streamline the Income Tax Act, making it more succinct, understandable, and user-friendly ...
Tax Guru4d
Income Tax Act: Section 285 Notification for Liaison Office Statement Filing
G.S.R. 125 (E).— In exercise of the powers conferred by section 285 read with section 295 of the Income-tax Act, 1961 (43 of 1961), the Central Board of Direct Taxes hereby makes the following rules ...
Business Today14d
Income Tax Calculator FY 2025-26
BT brings to you an easy-to-use tool that helps in calculating the tax payable on your income for FY 2025-26. It also lets you compare your tax liability under new tax regime and old tax regime.
Indiatimes14d
Budget 2025 income tax: Raise 30% income tax slab; provide flat 30% deductions on gross income - here’s why
Adhil Shetty, CEO of BankBazaar, urges Finance Minister Nirmala Sitharaman to raise the 30% income tax threshold to ₹18 lakh in Union Budget 2025, restructure the tax brackets, and introduce a ...
Investopedia15d
What Is the Tax Cuts and Jobs Act (TCJA)?
The Tax Cuts and Jobs Act (TCJA) was a major overhaul of ... compared to just 8% of the highest-earning 0.1%. Change in after-tax income by income percentile The Joint Committee on Taxation ...
Canada17d
Gross Negligence Penalty on Overstated SR&ED Claims Policy
The policy reflects a 1998 legislative amendment revising the preamble of subsection 163(2) of the Income Tax Act (Act), effective after June 20 ... a penalty 4.0 Amounts the penalty can apply to 4.1 ...
Canada18d
SR&ED Filing Requirements Policy
Reasons for revision This revision includes announced income tax changes since the last publication date ... The text of this policy has been revised to reflect these changes, see Appendix B.1 ...
CNN-News1822d
Budget 2025: Income Tax Cut Likely; Know Tax Deductions Available Under Old Tax Regime For FY25
Here’s a comprehensive guide to the key deductions available under the old tax regime: Section 80C is the most popular avenue for tax savings, allowing a maximum deduction of up to Rs 1.5 lakh ... the ...
CNN-News1822d
Budget 2025: Govt May Introduce New Income Tax Bill To Simplify I-T Law; All You Need To Know
The Union Budget for 2025-26 will be presented on February 1. Parliament will reconvene on March 10 and will sit through April 4. Sitharaman in her July Budget had announced a comprehensive review of ...