Income Tax Bill

Key highlights of the Revised Income-Tax Bill 2025 The bill replaces the complex Income Tax Act, 1961, simplifying tax laws by nearly 50% for better clarity and ease of understanding. It incorporates almost all of the 285 recommendations from the Select Committee, addressing errors, ambiguities, and stakeholder concerns. Revised tax slabs and rates aim to reduce middle-class tax burdens, boost disposable income, and encourage savings and investments. Union finance Minister Nirmala Sitharaman On Monday August 11, presented the “revised” bill. This bill seeks to replace Income Tax Act, 1961. This new bill simplifies the financial related legislation and provided clarity,…