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Searched Tag: income tax bill 2025

Union Finance Minister Nirmala Sitharaman speaks in the Rajya Sabha during the Monsoon session of Parliament.

Government reintroduces revised Income Tax Bill in Lok Sabha

August 11, 2025, 04:34 PM - 3 min read

The Government of India has reintroduced a reworked Income Tax Bill in the Lok Sabha, incorporating the panel’s 566 suggestions to simplify rules, clarify provisions, and reduce tax-related disputes

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

Parliamentary panel report on new Income Tax Bill, 2025, to be tabled on the first day of the monsoon session

Select Committee report on new Income Tax Bill to be tabled in LS

July 20, 2025, 01:12 PM - 3 min read

The new Income Tax Bill, 2025, is set to replace the six-decade-old Income Tax Act, is half its size and seeks to simplify the existing Act

Centre to introduce 8 new bills in Monsoon session of Parliament

July 16, 2025, 04:07 PM - 3 min read

There will be 21 sittings in both Houses during the Monsoon session, which is set to run from July 21 to August 21.

Union Finance Minister Nirmala Sitharaman. File photo.

New IT Bill: Is it an exercise in administrative overreach?

March 27, 2025, 01:32 PM - 5 min read

The new Income Tax Bill, 2025, grants sweeping powers to tax authorities, including access to encrypted communications and digital assets. While aimed at simplifying taxation, concerns over privacy and overreach persist. Experts argue judicial oversight is essential to prevent misuse and ensure transparency in tax enforcement.

New Income Tax Bill introduced; virtual assets now under tax net

February 13, 2025, 03:33 PM - 4 min read

Finance Minister Nirmala Sitharaman on Thursday introduced the New Income Tax Bill, 2025, in the Lok Sabha, seeking to replace the Income Tax Act, 1961. The bill aims to modernise tax laws, redefine terms, introduce clarity on deductions, and bring digital assets such as cryptocurrency under a structured tax regime.

More Than 90 Percent Taxpayers Expected to Choose New Regime Expects CBDT Chair.

CBDT Chairman expects 90 pc of taxpayers will opt for new regime

February 2, 2025, 06:36 PM - 4 min read

In a post-Budget interview, the Chairman of the Central Board of Direct Taxes (CBDT), Ravi Agrawal, stated that more than 90% of individual taxpayers in India may opt for the newly introduced tax regime following the significant tax reforms announced in the Union Budget.

New Income Tax Bill to Simplify Tax Compliance for All.

Big changes expected in upcoming Income Tax Bill 2025

February 1, 2025, 08:35 PM - 4 min read

The Union Budget 2025 has stirred up a lot of discussion, particularly regarding the introduction of a new Income Tax Bill, which is set to be unveiled by Finance Minister Nirmala Sitharaman next week.