During her speech, the Finance Minister announced that individuals earning up to Rs 12 lakh will be exempt from paying taxes.

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

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 ...

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

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

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.

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 ...

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

Many taxpayers are awaiting the draft of the new income tax bill 2025. The government has said the new income tax bill is ...

The new Income Tax Bill, tabled today in the Lok Sabha, retains all the deductions and exemptions but under new section ...