New Income Tax Bill cleared by Cabinet: What is the New Income Tax Bill & why is it being introduced? Explained

Q: How long will it take to read this news story?

The story "New Income Tax Bill cleared by Cabinet: What is the New Income Tax Bill &amp; why is it being introduced? Explained" has 1098 words across 49 sentences, which will take approximately 5 - 10 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "New Income Tax Bill cleared by Cabinet: What is the New Income Tax Bill &amp; why is it being introduced? Explained" was covered 7 hours ago by Times of India, a news publisher based in India.

Q: How trustworthy is 'Times of India' news outlet?

Times of India is a fully independent (privately-owned) news outlet established in 1838 that covers mostly economy and business news. The outlet is headquartered in India and publishes an average of 23 news stories per day. It's most recent story was published 3 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #25963306</li><li>URL: https://beamstart.com/news/new-income-tax-bill-cleared-17389448352710</li></ul>

Times of India 7h ago

New Income Tax Bill cleared by Cabinet: What is the New Income Tax Bill & why is it being introduced? Explained - Times of India

Quick Summary:

New Income Tax Bill: The Union Cabinet has approved the New Income Tax Bill, which aims to replace the 1961 Act by simplifying direct tax legislation.

This proposed bill, featuring clearer language and concise sentences, is expected to reduce legal disputes and will be reviewed during the Budget session.

The current Income Tax Act, established in 1961, requires modernisation to reflect significant societal changes in personal income generation and business operations.