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Searched Tag: government withdraws i t bill 2025

The old Income Tax Act, 1961, which had undergone over 4,000 amendments in all these decades, was considered too long (containing over five lakh words) and too complex

I-T (No 2) Bill, 2025: What’s in it for the taxpayers?

August 12, 2025, 07:59 PM - 5 min read

To come into force from April 1, 2026, the Income Tax (No 2) Bill carries simpler language, clarifies deductions and empowers I-T officials to forcibly break into personal emails and social media accounts of assessees during search operations

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The new version will be introduced on Monday, August 11, 2025

Govt withdraws IT Bill, to table new version on Aug 11

August 8, 2025, 05:06 PM - 3 min read

The government said it was withdrawing the I-T Bill, 2025, to avoid multiple versions of it and instead provide one, final, clear and updated version with all the changes included

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