Speaker Om Birla forms a 31-member Select Committee to examine the new Income Tax Bill. The panel, led by BJP's Baijayant ...

The much-anticipated bill is set to bring a major shift in tax terminology to make it simpler and more accessible for ...

The concept of ‘tax year’ has been introduced replacing ‘previous year’ and ‘assessment year’ in the new Income Tax Bill ...

The Finance Minister had first announced a comprehensive review of the Income-Tax Act, 1961 in the July 2024 Budget.

The Lok Sabha was adjourned until March 10 after the first part of the Budget session recorded 112 per cent productivity. Key ...

The Income Tax Bill 2025 aims to simplify the tax system by dropping obsolete provisions, decriminalizing many offences, and ...

Definitions, provisions and explanations have all been simplified. This will reduce the scope for litigation and make the Act ...