New Delhi: The New Income Tax Bill 2025 was tabled in Parliament on February 13, 2025. The government had listed a bill to consolidate and amend the law relating to income-tax for introduction in the Lok Sabha.
The new income tax bill calls for replacing terminologies like assessment and previous year with easier to understand ‘tax year’. Thew government maintains that this would simplify language while removing provisos and explanations.
The Income Tax Bill, 2025 is a 622 page new law which comprises of 526 sections, 23 chapters and 16 schedules. It will replace 298 sections and 14 schedules in the six-decade old voluminous legislations.
Union Finance Minister Nirmala Sitharaman tabled the New Income Tax Bill 2025 in Parliament on February 13, 2025. Personal Finance Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
