"income-tax-bill-2025"

A statutory review committee to assess the law every three years will ensure that the new Act remains relevant

Finance Minister Nirmala Sitharaman introduced the revised Income Tax Bill, 2025, in the Lok Sabha, adopting 285 recommendations from a Parliamentary panel. The bill aims to simplify tax laws, benefit the middle class, and replace the decades-old 1961 Act

The proposed Bill does not entirely overhaul the existing Income Tax Act 1961, but streamlines terminology and language and simplifies the provisions

At a time when digital communication is deeply integrated into our professional and personal lives, allowing government easy access to sensitive public data is fraught with danger 

Digital, social media accounts accessed only in search, survey ops; not against common taxpayer: top I-T department official

Income Tax payers can now match the sections of the I-Tax Act, 1961, with the corresponding clauses in the simplified I-T Bill, 2025, on the tax department portal

The Income Tax Bill, 2025, which is likely to be introduced in Parliament on Thursday will come into effect from April 1, 2026