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Parliament passes new Income Tax Bill
Updated : 9 months, 3 weeks ago IST
Parliament on Tuesday passed the new Income Tax Bill with the Rajya Sabha clearing it by a voice vote.
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New Income Tax Bill provides flexibility for refunds if return filed late,
Updated : 9 months, 3 weeks ago IST
The new Income Tax bill, which was passed by Lok Sabha on Monday, provides flexibility for allowing refund claims in cases where the return is not filed in due time and reduces the time period for filing TDS correction statements to two years from six years as provided in the Income Tax A
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Lok Sabha passes new Income Tax Bill without debate amid opposition protes
Updated : 9 months, 3 weeks ago IST
Lok Sabha on Monday passed the new Income Tax Bill without debate, hours after it was introduced in the House by Finance Minister Nirmala Sitharaman.
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New Income Tax Bill introduced in Lok Sabha with amendments
Updated : 9 months, 3 weeks ago IST
Finance Minister Nirmala Sitharaman on Monday introduced a new Income Tax Bill in Lok Sabha to consolidate and amend the law relating to income tax, three days after the previous Bill was withdrawn.
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Government withdraws new Income-Tax Bill from LS, to come with amended leg
Updated : 9 months, 3 weeks ago IST
"A new version of the Income Tax Bill, incorporating most of the recommendations made by the Select Committee chaired by Shri Baijayant Panda, will be introduced on Monday, August 11," people in the know said.
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Finance Minister honors Tax officers for outstanding service on 166th Inco
Updated : 9 months, 3 weeks ago IST
Finance Minister Nirmala Sitharaman honored several Income Tax officers for their exceptional contributions to the department during the celebration of the 166th Income Tax Day, recognising decades of service in modernising India's tax administration.
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Aim is to reduce litigation, consolidate TDS deduction: PP Chaudhary on ne
Updated : 9 months, 3 weeks ago IST
The proposed IT bill has 23 chapters and 536 provisions, a huge reduction from the earlier 47 chapters and 819 provisions from the 1961 bill.
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New Income Tax bill improves ease of doing business, to give investors con
Updated : 9 months, 3 weeks ago IST
"I congratulate the Finance Minister for introducing the New Income Tax Bill, and I say new because the existing Bill dates back to 1961. This bill has seen several amendments. The government's objective, which is the right idea, is that this bill which is over 60 years old and has so man
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47 chapters brought down to 23; 819 provisions reduced to 536 in Income-ta
Updated : 9 months, 3 weeks ago IST
Lok Jan Shakti Party (Ram Vilas) MP in Lok Sabha and member of the Select Committee on the Income-Tax Bill, 2025, Arun Bharti, welcomed the Bill and said 47 chapters have been brought down to 23, while 819 provisions have been reduced to 536.
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New Income Tax Bill a step toward simplified, fair tax system: LJP MP Arun
Updated : 9 months, 3 weeks ago IST
Lok Sabha MP Arun Bharti lauded the Income Tax Bill, 2025, presented in Parliament, calling it a landmark step toward simplifying India's tax system. He said the bill reduces legal ambiguity, supports startups and MSMEs, and lessens compliance burdens through structural reforms and clear lan
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New Income Tax Bill to promote MSMEs; enable youth to start new businesses
Updated : 9 months, 3 weeks ago IST
"The impact of simplifying the Income Tax Act will be on youth who want to start new businesses, small businesses, MSMEs, or states where inequalities have arisen due to some reason, so that there can be equality in that. There are multiple things, some small changes to revolutionary chan
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New Income Tax bill halves word count, eases compliance: Chairman of the F
Updated : 9 months, 3 weeks ago IST
BJP Member of Parliament and Chairman of the Finance Select Committee, Baijayant Jay Panda on Tuesday reflected upon the ongoing simplification of India's tax laws, stated that the newly proposed Income Tax Bill aims to make compliance easier for taxpayers without altering tax policies or ra
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