The new Income Tax Bill is likely to propose 23 chapters and 16 schedules, sources told CNBC-TV18. It will introduce simpler terms such as “tax year.” The tax year would define the twelve-month financial period starting from April 1, 2026, sources said. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense … Read more
Archyde new Income Tax Bill: Simplifying India’s Tax System The Indian Parliament’s Budget Session resumed today, wiht the much-anticipated new Income Tax Bill expected to be tabled shortly. The bill,cleared by the Union Cabinet last week,aims to modernize India’s tax system,making it simpler and more obvious. Finance Minister Nirmala Sitharaman expressed her confidence during the … Read more
Income Tax Bill in Parliament Budget Session LIVE updates: Parliament has resumed the Budget Session today. The new Income Tax bill which was cleared by the Union Cabinet on Friday last week, is expected to be tabled in the Lok Sabha today. The bill has been presented as an effort by the government to better … Read more
Finance Minister Nirmala Sitharaman had announced in Budget 2025 that the new tax bill will be introduced in the ongoing session of Parliament. | Photo Credit: Getty Images/iStockphoto The Union Cabinet on Friday (February 7, 2025) approved the new income tax bill, which will replace the six decades old I-T Act, sources said. The new … Read more
Last Updated:February 07, 2025, 12:20 IST “Some provisions have been proposed that will allow the government to modify the limits or amounts of deductions/rebates through executive orders only,” according to a Moneycontrol report citing a source. New Income Tax Bill. The new income tax bill 2025, which is likely to receive the Union Cabinet’s approval … Read more
Last Updated:February 06, 2025, 12:42 IST The new income tax bill is expected to make compliance of the income tax law easier for taxpayers and income tax authorities by reducing complexity. New Income Tax Bill. The Union Cabinet, chaired by Prime Minister Narendra Modi, is likely to approve the new income tax bill in its … Read more