New Income Tax Bill 2025 vs current Income Tax Act 1961: What is really new?
The new Income Tax Bill will replace the Income Tax Act. However, not many people are able to understand how the new tax bill ...
What is new Income Tax Bill announced by Finance Minister Nirmala Sitharaman and why it will replace the Income Tax Act
The new Income Tax Bill received clearance from Union Cabinet last week. Soon, the FM will likely table the same in the ...
Income Tax Bill 2025 vs Income Tax Act 1961: What all has changed under the new bill; check FAQs
The objective of the new Bill is to streamline the Income Tax Act, making it more succinct, understandable, and user-friendly ...
Income Tax department activates section wise mapping of I-T Act, Tax bill
Income Tax payers can now match the sections of the I-Tax Act, 1961, with the corresponding clauses in the simplified I-T ...
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 ...
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Five Ways New Income Tax Bill Is Simpler Than Old Income Tax Act
Finance Minister Nirmala Sitharaman introduced the Income Tax Bill 2025 in the Lok Sabha on Thursday, aiming to simplify tax ...
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All about Section 80GGA of Income Tax Act
Section 80GGA pertains to donations made for scientific research or rural development. These encompass contributions to ...
New Income Tax Bill likely to be tabled in Parliament today, How is it different from 60-year-old Income Tax Act? All you need to know
The New Income Tax Bill will not change the existing tax slabs but will replace the present concept of assessment and ...
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Income Tax Act | No Penalty Under S.271AAA If Undisclosed Income Is Admitted, Explained & Tax Paid Even With Delay : Supreme Court
The Supreme Court, while determining a tax matter, observed that the undisclosed income, under Section 271AAA(1) of the ...
New Income Tax Bill: What taxpayers want from Modi government’s latest Income Tax Act - KPMG survey reveals
In July 2024, the government announced a review of the Income-tax Act, 1961, aiming to simplify it for taxpayers. A KPMG ...
New Income Tax Bill 2025: Read full text of proposed new I-T Act
Finance Minister Nirmala Sitharaman presented the New Income Tax Bill 2025 in Lok Sabha, aiming to replace the 64-year-old l ...
New Income Tax Bill, half the size of 1961 I-T Act, built on core ‘SIMPLE’ principles: What are they?
The Income Tax Bill 2025 has 57 tables, compared to 18 in the existing I-T Act of 1961. The new bill removed 1,200 provisos ...