India’s recently presented Union Budget on February 1, 2025, introduces significant tax and regulatory reforms with a strong ...

Several redundant Chapters and Sections in the 1961 Act are omitted. The Tax Administration should endeavour to maintaining ...

It aims to simplify the existing Income Tax Act, 1961, by making it more structured and easier to understand. If passed, the new law will come into effect from April 1, 2026.

Scrapping archaic provisions and simplifying language are welcome. But systemic issues affecting taxpayer morale must also be ...

The Income Tax Department has introduced an online calculator for taxpayers to compare their potential savings under the ...

The Union Budget 2025, presented in the Parliament Session on February 1, 2025, introduced major reforms in exemptions and deductions under the new tax regime for the Financial Year (FY) 2025-26 and ...

The Indian economy is likely to get a boost from rural demand picking up and a government-announced tax relief that is ...

As India moves closer to a major tax overhaul, the new Income-Tax Bill 2025 seeks to simplify the tax structure and to make ...

This new bill, tabled in Lok Sabha by Finance Minister Nirmala Sitharaman, seeks to replace the existing Income Tax Act, 1961 ...

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 ...

The essence of the Bill remains the same and the existing tax base, tax rates, computation mechanism etc. have been largely ...

For property bought prior to July 23 2024, the tax on LTCG is computed as lower of 12.5% (without indexation) or 20% (with ...