New Income Tax bill explained

Mint Explainer | New income tax bill: Why was there a need for a new legislation?
The new income tax Bill aims to simplify India's tax law, eliminating redundancies and improving readability without altering its core principles. But does it go far enough? Mint explains
New Income Tax Bill 2025 explained: Top 30 FAQs every taxpayer should check
The new bill aims to simplify tax provisions with clearer language, reducing its length and eliminating redundant sections while consolidating related content for easier understanding and compliance.
Income Tax Bill 2025 - Overview & Key Points
Explore overview of Income Tax Bill 2025, major tax reform simplifies laws, enhances compliance, & introduces digital integration for a transparent system.
Income Tax department activates section wise mapping of I-T Act, Tax bill
In a post on X, the department on February 14 said it has activated the utility to check Section of the Income Tax Act, 1961, vis-a-vis corresponding clause of the new Income Tax Bill. A taxpayer can select the section of I-T Act, 1961, from a drop down menu and accordingly the corresponding clause in the I-T Bill will appear.
Income Tax portal now offers section-to-section mapping for new Tax Bill
Taxpayers can now easily compare sections of the Income Tax Act, 1961, with corresponding clauses in the new Income Tax Bill, 2025, through an online utility provided by the tax department. The Section-to-Section mapping has been uploaded on the I-T department’s website for public access.
Simplified Income Tax Bill: A New Era in Tax Legislation
The newly introduced Income Tax Bill seeks to simplify tax legislation by minimizing litigation and interpretation, reducing the word count, sections, and chapters significantly from its 1961 predecessor.
India's new income tax bill proposes broad access to taxpayers' devices, social media accounts
India's new income tax bill proposes sweeping powers for authorities to access taxpayers' emails, trading and social media accounts during searches, activities which are not covered in the current tax law.
India makes tax filing easier with new Income Tax Bill 2025
Dubai: After raising the no income tax limit for residents to Rs1.2 million, India has now brought out an updated Income Tax Bill – and made the whole process of tax filings much simpler. “The Rs1.2 million tax-free income is a big deal indeed compared to the earlier Rs300,
Income-Tax Bill 2025: How provisions, sections for senior citizens have been covered under the new bill
In accordance with section 153 of the Income-Tax Bill 2025, senior citizens are eligible to claim a tax deduction of Rs ...
Tariffs May Add $1,700 To Average Tax Bill, Hike Prices And Cut Income, Say Experts
Higher tariffs could worsen the squeeze on American families by increasing their taxes, lowering their income, and requiring ...
College athletes could get tax breaks under new NIL bill: Will it boost Alabama’s recruiting?
If passed, the legislation would exempt college athletes from paying state income tax on their NIL compensation.
Income Tax Bill 2025: I-T department launches self-mapping tool to compare old act, new bill
The Income Tax Department has made available a comprehensive comparison tool on their website, detailing the correlation ...
New Income Tax Bill 2025 Highlights: FM Nirmala Sitharaman introduced new I-T Bill in Lok Sabha
New Income Tax Bill 2025 Highlights: Union Finance Minister Nirmala Sitharaman presented the new Income-Tax Bill 2025 in Lok ...
Hosted on MSN1d
New Income Tax Bill 2025: Why is the 64-year-old tax law changing; What changes have happened in gratuity, pension and VRS?
To simplify the 64-year-old Income Tax Act 1961 and eliminate unnecessary provisions in it, Finance Minister Nirmala ...