Last Updated:March 05, 2025, 20:19 IST This Bill gives tax officers powers to override the access code of computer systems and virtual digital space, including social media, online trading and investment accounts as well as cloud servers, in search and seizure cases. The New Income Tax Bill, 2025, extends inspection powers to virtual digital spaces…
New Income Tax Bill 2025 FAQs Answered New Income Tax Bill 2025: Finance Minister Nirmala Sitharaman introduced the New Income Tax Bill 2025 in Lok Sabha earlier this week. The New Income Tax Bill is expected to replace the decades old Income Tax Act 1961. It is less complicated and easier for the taxpayer to…
New Income Tax Bill: Taxpayers are quite keen to understand how these changes will impact their tax matters and responsibilities. By Rama KarmakarNew Income Tax Bill 2025 explained: The proposed Income Tax Bill, 2025 (‘new bill’) expected to come into effect on 01 April 2026, which will replace the existing Income Tax Act, 1961 (‘Act’),…
New Income Tax Bill 2025 (AI image) New Income Tax Bill 2025: Finance Minister Nirmala Sitharaman has tabled the New Income Tax Bill in Lok Sabha on Thursday, comprising 536 clauses across 622 pages, with an aim to replace the existing 823-page law that has been in effect for 64 years. The New Income Tax…
KPMG in India did a survey in January 2025 to gather industry perspectives on the Income Tax Act review. (AI image) New Income Tax Bill: The government announced in July 2024 its intention to conduct a thorough review of the Income-tax Act, 1961. The primary objective is to transform the Income Tax Act 1961 into…
The Union Cabinet approved the New Income Tax Bill on Friday. New Income Tax Bill LIVE: Finance Minister Nirmala Sitharaman may table the New Income Tax Bill in the Parliament on Tuesday. The intention to introduce the New Income Tax Bill was first announced by FM Sitharaman in her Union Budget 2025 speech.The Union Cabinet…
New Income Tax Bill: Prime Minister Narendra Modi-led Union Cabinet has cleared the New Income Tax Bill today, according to a PTI report. The Income Tax Bill being cleared by the Cabinet paves way for it to be tabled in the Parliament next week as part of the Budget session.The proposed New Income Tax Bill,…
All the taxpayers in the new tax regime have some reason to celebrate, irrespective of income levels. By Parizad SirwallaBudget 2025 income tax: In the run up to the Budget 2025, individual taxpayers were eagerly looking forward to favorable tax reforms. The FM seems to have brought some cheer to them through her proposals.Recognizing the…
Today’s proposals rightly focused on middle-income taxpayers, marking a significant step for the government to forgo one lakh crore of revenue. By Kuldip Kumar and Tanu GuptaBudget 2025 income tax slab changes FY 2025-26: The Honorable Finance Minister presented her 8th consecutive budget, and this was perhaps one of those budgets that exceeded individual taxpayers’…
NEW DELHI: Finance minister Nirmala Sitharaman is set to introduce a bill for a new direct tax law in the budget session, which will focus on simplification of the provisions, doing away with the ones that are redundant and attempt to make the language more layman friendly.The committee tasked with the revision, is deciding if…
