The Union Cabinet approved the new Income Tax Bill on Friday, which is poised to replace the existing Income Tax Act of 1961.

The Union Cabinet is expected to approve the new Income Tax Bill today, potentially leading to its introduction in the Lok ...

Finance Minister Nirmala Sitharaman, while presenting the Union Budget 2025 on February 1, announced that she will table the ...

The current Income Tax Act was enforced in the country in 1961 and now, the new Income Tax Act is being made according to the ...

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

The proposed legislation, as announced by Finance Minister Nirmala Sitharaman during the Budget 2025, will prioritise ...

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the New Income Tax Bill on Friday (7 February), setting ...

The bill will not introduce new taxes. Instead, it will focus on simplifying tax laws, reducing legal complexities, and ...

One of the proposed changes is to present rates, thresholds, and limits in a tabular format, rather than in lengthy written ...

The tax filing season kicked off on Jan 27, with the Internal Revenue Service accepting returns. Taxpayers could face ...

The Bill will include the recent changes in income tax rates, slabs and TDS (Tax Deducted at Source) provisions will also be ...

The revised tax system is set to be implemented starting from the fiscal year 2025-26, affecting taxpayers in the assessment year 2026-27.