Finance Minister Nirmala Sitharaman has introduced a new Income Tax Bill 2025 in Parliament. In this bill, an attempt has been made to simplify and clear the tax law based on more than 285 suggestions. No new tax or exemption has been added to it, but words and procedures have been easier. Now tax will have to be paid at the beginning of the year and information related to TDS/TCS is given in the clear table. This will provide relief from litigation to taxpayers, msmes and trusts and increase transparency. Finance minister nirmala sitharaman has introduced the new income tax bill 2025 in parliament. Based on over 285 recommendations, the bill aims to simplife and Clarify tax laws. There are no new taxes or rebates added; INTEAD, Wording and Procedus has been made more accessible. Tax will now be paid in the same year it’s ear’s ear This will reduce legal disputes and brings relieve to taxpayers, msmes, and trusts –ultimately improving transparency in the overall tax process.
Income tax will now be simple! New bill brought in Parliament Know what is new for you? Paisa Live | Income Tax will now be simple! New Bill Introduced in Parliament | Know what’s new for you?
