Income Tax Bill introduced

2025 - 2 - 12

Tax Time Just Got a Makeover: Meet the New Income Tax Bill 2025!

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Curious about the new Income Tax Bill 2025? Dive into the highlights and what it means for your wallet!

The long-awaited Income Tax Bill 2025 is ready to shake up the way we handle our taxes in India! Set to replace the archaic Income Tax Act of 1961, this comprehensive overhaul promises a simpler, more user-friendly experience for taxpayers across the nation. With a staggering 622 pages and 536 sections, it aims to consolidate various deductions, including those for salaries and gratuity, into a streamlined format, minimizing confusion and paving the way for a clear understanding of tax obligations. Finance Minister Nirmala Sitharaman has emphasized the need for a revamped tax framework, and this new bill seeks to do just that, promising a fresh start for countless citizens.

One of the notable features of the new Income Tax Bill is the introduction of a single section that encapsulates all relevant deductions, making life easier for taxpayers who often find themselves buried under a mountain of paperwork. Deductions for standard, gratuity, and leave encashments, once scattered across various parts of the tax code, can now be navigated with ease. Additionally, taxpayers can expect clarity in new tax slabs and exemption limits that differ from the old regime, ensuring everyone understands the financial landscape ahead.

However, it's not all change, as the new bill proposes no alterations to capital gains taxes. This means that while many aspects of income tax will be simplified, investors can rest easy knowing that their capital gains tax obligations remain steadfast. Reduced complexities and clearer legal language will not only make compliance easier but are also expected to cut down on prolonged litigation that has plagued the system for years. This is a particular boon as taxpayers now have the ability to understand their responsibilities without the constant fear of misinterpretation leading to penalties.

As the Income Tax Bill 2025 prepares to be introduced in the Lok Sabha, taxpayers across India should gear up for a significant shift in tax practices. The initiative is more than just bureaucratic change; it's an opportunity for citizens to take control of their financial matters. With the new bill, you might even spend less time dreading tax season and more time celebrating your newfound clarity!

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Image courtesy of "Economic Times"

10 takeaways in new Income Tax Bill for taxpayers: Tax year, TDS ... (Economic Times)

New Income Tax Act: The Income Tax Act 2025 will replace the current Income Tax Act 1961. As the current income tax laws will change, many taxpayers are ...

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Image courtesy of "Business Standard"

Income Tax Bill 2025 to replace 1961 Act, introduces concept of tax ... (Business Standard)

New Income Tax Bill 2025: Deductions from salaries, such as standard deduction, gratuity, and leave encashment, have now been consolidated in one section ...

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Image courtesy of "The Hindu"

New Income Tax Bill 2025 to have 622 pages, 536 sections; likely to ... (The Hindu)

Income-Tax Bill 2025: Simplified tax bill with 536 sections and 23 chapters to replace the complex Income Tax Act, 1961, set to introduce in the Lok Sabha.

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Image courtesy of "NDTV"

New Income Tax Bill 2025: Old Vs New Regime Differences ... (NDTV)

New Income Tax Bill 2025: We cover everything from tax slabs and the old vs. new regime to the latest rules and exemption limits.

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Image courtesy of "The New Indian Express"

No change in capital gains taxes under new income tax bill (The New Indian Express)

The bill, a copy of which is in possession of this newspaper, is set to be introduced on Thursday and has simplified legal terms to reduce litigation from ...

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Image courtesy of "The Economic Times"

New Income Tax Bill 2025 Live: New Income Tax Bill to be ... (The Economic Times)

New Income Tax Bill 2025 Live: FM Nirmala Sitharaman announced during her Budget 2025 speech, that a new income tax bill will be introduced during the ...

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Image courtesy of "Livemint"

Finance Minister Nirmala Sitharaman to introduce Income-Tax Bill ... (Livemint)

Finance Minister Nirmala Sitharaman to introduce Income-Tax Bill 2025 in Lok Sabha on February 13.

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Image courtesy of "Livemint"

New Income Tax Bill 2025 LIVE Updates: Here is what to expect ... (Livemint)

New Income Tax Bill 2025 LIVE Updates: The new Income-Tax (I-T) Bill, announced by Finance Minister Nirmala Sitharaman during her Budget speech on February ...

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Image courtesy of "The New Indian Express"

No change in capital gains taxes under new income tax bill set for ... (The New Indian Express)

The bill introduces the concept of tax year instead of assessment year, and previous year instead of financial year.

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Image courtesy of "The New Indian Express"

Income Tax Bill introduces new 'Tax Year' concept, replacing ... (The New Indian Express)

The Bill, which maintains the structure of the previous tax regime with no major changes to penalties or compliance requirements, is expected to take effect ...

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Image courtesy of "India Today"

New Income Tax Bill to introduce simpler 'tax year' concept: All you ... (India Today)

When the Income Tax Act of 1961 came into being it had 880 pages. Over the years, the act contained several amendments introduced in the various budgets.

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Image courtesy of "The Economic Times"

New Income Tax Bill 2025 to be introduced by FM Nirmala ... (The Economic Times)

New Income Tax Bill in Parliament today: Finance Minister Nirmala Sitharaman will introduce the new income tax in Parliament today. The new Income Tax Bill ...

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Image courtesy of "Business Today"

Income-Tax Bill 2025 vs Direct Tax Code proposals: How are they ... (Business Today)

Digital economy taxation is another major update — while the DTC lacked specific provisions, the new bill introduces taxation for crypto-assets and digital ...

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Image courtesy of "India Today"

New Income Tax Bill to be tabled today: Here's what you can expect (India Today)

New Income Tax Bill is expected to come into effect on April 1, 2026. The bill aims to simplify tax laws, remove outdated provisions, and make compliance ...

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Image courtesy of "Financial Express"

New Income Tax Bill 2025 Live Updates: Congress MP criticises ... (Financial Express)

New Income Tax Bill 2025 Live, Parliament Budget Session: Finance Minister Nirmala Sitharaman will be presenting the new Bill in the Lok Sabha today, ...

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Image courtesy of "The Economic Times"

New Income Tax Bill 2025 Live Updates: FM Nirmala Sitharaman ... (The Economic Times)

FM Sitharaman had announced this during her Budget 2025 speech on February 1, 2025. The income tax bill will be a significant step towards greatly simplifying ...

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Image courtesy of "Times of India"

New Income Tax Bill 2025 Live Updates: FM Nirmala Sitharaman to ... (Times of India)

New Income Tax Bill 2025 Live Updates: Finance Minister Nirmala Sitharaman will table the New Income Tax Bill in Parliament today with an aim to even.

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Image courtesy of "The Hindu"

Parliament Budget Session Day 9 LIVE: Income Tax Bill 2025 ... (The Hindu)

The Lok Sabha on Tuesday (February 11, 2025) witnessed sharp exchanges between Speaker Om Birla and Dravida Munnetra Kazhagam MP Dayanidhi Maran over the ...

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Image courtesy of "Hindustan Times"

New Income Tax Bill introduced by Nirmala Sitharaman in ... (Hindustan Times)

The new Income Tax Bill 2025 was tabled in the Lok Sabha on February 13, following which the Opposition MPs staged a walkout.

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Image courtesy of "The Hindu"

New Income Tax Bill introduced in Lok Sabha (The Hindu)

Finance Minister Sitharaman on Thursday (February 13, 2025) introduced the Income Tax Bill, 2025, in Lok Sabha amid Opposition parties objecting its ...

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Image courtesy of "Jansatta"

New Income Tax Bill 2025: नया इनकम टैक्स बिल 2025 ऐसे करें ... (Jansatta)

New Income Tax Bill 2025 Pdf: वित्त मंत्री निर्मला सीतारमण ने लोकसभा में भारी हंगामे के बीच नया इनकम टैक्स बिल पेश कर दिया।

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Image courtesy of "आज तक"

न्यू इनकम टैक्स बिल लोकसभा में किया गया पेश, जानिए आम जनता के लिए ... (आज तक)

लोकसभा में पेश किए गए नए बिल को पारदर्शी और टैक्सपेयर के अनुकूल बनाने का दावा किया गया है. इसमें टैक्स सिस्टम को आसान बनाने के ...

New Income Tax Bill : नया इनकम टैक्स बिल लोकसभा में पेश, अब सेलेक्ट ... (Financial Express (Hindi))

New Income Tax Bill : वित्त मंत्री निर्मला सीतारमण ने नया इनकम टैक्स बिल 2025 लोकसभा में पेश कर दिया है. अब सदन की सेलेक्ट कमेटी इस ...

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Image courtesy of "Business Today"

Income Tax Bill 2025 for salaried individuals: Here's how salary ... (Business Today)

The proposed Income-Tax Bill 2025 aims to streamline the definition of taxable incomes categorized under the "Salaries" section.

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Image courtesy of "ABP News"

New Income Tax: नए इनकम टैक्स बिल में क्या है नया और आम आदमी को ... (ABP News)

New Income Tax Bill: न्यू इनकम टैक्स बिल कोई नया कानून नहीं है, बल्कि इसमें आयकर अधिनियम 1961 को ही आसान शब्दों में लिखा गया है.

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Image courtesy of "Economic Times"

Top 5 highlights of newly-introduced Income Tax Bill 2025 in Lok ... (Economic Times)

The new bill will replace the current Income Tax Act, 1961, and will become effective from April 1, 2026, i.e., from FY 2026-27. Read our story to know the ...

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Image courtesy of "CNBCTV18"

New Income Tax Bill 2025 introduced in Lok Sabha; sent to select ... (CNBCTV18)

The Bill has been referred to a select committee for further scrutiny. The committee, which will examine the proposed changes and potential amendments, ...

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Image courtesy of "ABP News"

New Income Tax Bill 2025: वित्त मंत्री निर्मला सीतारमण ने संसद में ... (ABP News)

New Income Tax Bill 2025: वित्त मंत्री निर्मला सीतारमण (Nirmala Sitharaman) ने लोकसभा (Lok Sabha) में नया इनकम टैक्स बिल 2025 पेश कर दिया है ...

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Image courtesy of "अमर उजाला"

New Income Tax Bill: 63 साल पुराने आयकर कानून को बदलने के लिए संसद ... (अमर उजाला)

वित्त मंत्री निर्मला सीतारमण ने गुरुवार, 13 फरवरी को लोकसभा में आयकर विधेयक 2025 पेश किया। बहुप्रतीक्षित नया आयकर विधेयक संसद ...

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Image courtesy of "Business Today"

Income Tax Bill 2025 vs Income Tax Act 1961: What all has changed ... (Business Today)

The objective of the new Bill is to streamline the Income Tax Act, making it more succinct, understandable, and user-friendly.

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Image courtesy of "India Briefing"

India's New Income Tax Bill 2025: An Overview (India Briefing)

Understand the major updates in India's Income Tax Bill 2025, including tax law simplification and a shift to a unified tax year.

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Image courtesy of "Fortune India"

Tax rates have not been modified in New Income Tax Bill introduced ... (Fortune India)

While the new proposed law does not rock the boat, the hope is that the innocuous language changes will not spring up any new tax disputes, say experts.

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Image courtesy of "India Today"

New Income Tax bill explained: What's changing and what's not (India Today)

Finance Minister Nirmala Sitharaman introduced the new Income Tax Bill in Lok Sabha on Thursday. The bill aims to simplify the existing Income Tax Act, ...

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Image courtesy of "The Indian Express"

What's new in the Income Tax Bill, 2025 (The Indian Express)

The Income-tax Bill, 2025, which was introduced in Lok Sabha on Thursday, intends to simplify India's six-decade-old structure of direct taxation by ...

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