Govt answers all FAQs on new Income Tax Bill

New Income Tax Bill 2025 explained: Top 30 FAQs every taxpayer should check
The new bill aims to simplify tax provisions with clearer language, reducing its length and eliminating redundant sections while consolidating related content for easier understanding and compliance.
India to present new bill in Parliament to replace decades-old income tax law
India will introduce a new condensed version of its income tax law in the lower house of the Parliament on Thursday, which aims to simplify the six decades old rules that have led to a slew of litigations.
Govt answers all FAQs on new Income Tax Bill: ‘60,000 man-hours spent on it’
The government has shared a list of frequently asked questions that taxpayers may pose after reading the Income Tax Bill 2025. Read on to know what they are.
New Income Tax Bill 2025: Higher Exemptions, Simpler Rules, Easier Tax Filing – Here’s What Changes For You
Finance Minister Nirmala Sitharaman introduced the much-anticipated Income Tax Bill 2025 in the Lok Sabha on February 13. The proposed legislation aims to simplify the country’s tax system by modernising language,
New Income Tax Bill 2025: 'Layman's Tax Code' - Expert Decodes
Finance Minister Nirmala Sitharaman , in her Union Budget 2025 speech, announced a historic move—the introduction of a new Income Tax Bill to replace the six-decade-old Income Tax Act of 1961.Today, the bill has been officially tabled in Parliament,
FM Sitharaman tables new Income Tax Bill in Lok Sabha
Finance Minister Nirmala Sitharaman introduced a new Income Tax Bill in Lok Sabha on Thursday, aiming to replace the existing legislation.
New Income Tax Bill, half the size of 1961 I-T Act, built on core ‘SIMPLE’ principles: What are they?
The Income Tax Bill 2025, has 57 tables, compared to 18 in the existing I-T Act of 1961 and removed 1,200 provisos and 900 explanations.
Income Tax Bill: After being presented in the Lok Sabha, the new income tax bill was sent to the Select Committee, know what is in this bill..
Finance Minister Nirmala Sitharaman on Thursday introduced the new Income Tax Bill 2025 in the Lok Sabha. After being introduced in the Lok Sabha, it has been sent to the Select Committee for review.
Senators propose killing US EV tax credit, new $1,000 tax for road repairs
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Cannabis prices likely to increase if Michigan adopts proposed new tax
Between 2022 and 2023, Michigan’s sales increased 33% to about $3 billion, according to Whitney Economics' 2024 jobs report.
Tax Season 2025: What’s New That Could Save You Money
A Your Money Briefing podcast series that breaks down all the changes you need to know before filing your tax return ...
Rep. Nicole Malliotakis floats new proposed tax cuts for seniors in pair of bills
The bills would increase deductions on the taxable income of Americans over the age of 65 and enjoying Social Security ...
Tax deductions and credits may boost your refund. Which ones are available to new filers?
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Property tax update: You can now complete the new online application for ANCHOR, Senior Freeze, Stay NJ
The new combined application to file for property tax relief in New Jersey is now available to complete online. The ...
College athletes could get tax breaks under new NIL bill: Will it boost Alabama’s recruiting?
If passed, the legislation would exempt college athletes from paying state income tax on their NIL compensation.
New Colorado Tax Credit: What’s the Scoop?
The Colorado Promise tax credit, providing two years of tuition and fees for qualifying students. The Low-Income Child Care ...
Tax season: How to avoid scams and how the IRS is making filing easier with new tools
The tax filing season kicked off on Jan 27, with the Internal Revenue Service accepting returns. Taxpayers could face ...
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Car tax rules are changing: what are the new vehicle excise duty rates?
The rules around vehicle excise duty are changing this April. What are they, and how are they going to affect you?
From Seattle to the Okanogan, ‘tax the rich’ is stirring
The tax the rich movement is finally having some breakthroughs with the masses. So why are Republicans in Congress moving to ...