New Income Tax Bill 2025: Six aspects to take note - is it a zero-sum game?

Quick Summary:

The New Income Tax Bill 2025 aims to simplify tax laws in India, focusing on simplifying language, reducing litigation and compliance, and removing obsolete provisions.

It introduces a taxpayer's charter, merges TDS/TCS sections, and aligns terminology with international norms.

Likely effective from April 1, 2026, it promises streamlined processes without major tax rate changes.

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Article Details

Author / Journalist: TOI Business Experts

Category: EconomyBusiness

Markets: India

Topics: Business news Taxpayer's charter Income tax slab rates Budget 2025 Income Tax Act review New Income Tax Bill 2025

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-14 @ 17:19:39 (1 weeks ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 896 words

Reading Time: 5 minutes read

Sentences: 38 lines

Sentence Length: 24 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 26141152

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About Times of India

Main Topics: EconomyBusiness

Official Website: timesofindia.indiatimes.com

Update Frequency: 9 posts per day

Year Established: 1838

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