New Income Tax bill explained

India's new income tax bill proposes broad access to taxpayers' devices, social media accounts
India's new income tax bill proposes sweeping powers for authorities to access taxpayers' emails, trading and social media accounts during searches, activities which are not covered in the current tax law.
PAN and Aadhaar: What will be the effect of the new income tax bill on your PAN and Aadhaar, know full details here..
The new Income Tax Bill has been introduced in the Lok Sabha. Finance Minister Nirmala Sitharaman has introduced it. Through this bill, there will be many big and important changes related to income tax.
India makes tax filing easier with new Income Tax Bill 2025
Dubai: After raising the no income tax limit for residents to Rs1.2 million, India has now brought out an updated Income Tax Bill – and made the whole process of tax filings much simpler. “The Rs1.2 million tax-free income is a big deal indeed compared to the earlier Rs300,
India to present new bill in Parliament to replace decades-old income tax law
India will introduce a new condensed version of its income tax law in the lower house of the Parliament on Thursday, which aims to simplify the six decades old rules that have led to a slew of litigations.
‘This marks a transition…’: Experts on Income Tax Bill 2025
Several experts have supported the government efforts put into the Income Tax Bill 2025, but some expressed apprehensions.
New Income Tax Bill 2025: 'Layman's Tax Code' - Expert Decodes
Finance Minister Nirmala Sitharaman , in her Union Budget 2025 speech, announced a historic move—the introduction of a new Income Tax Bill to replace the six-decade-old Income Tax Act of 1961.Today, the bill has been officially tabled in Parliament,
Khaleej Times12d
Indian budget unveils major tax relief, tightens rules for NRIs
Indian Finance Minister Nirmala Sitharaman delivered her eighth budget speech in the Lok Sabha on Saturday, unveiling a series of proposals designed to bolster domestic growth, support the middle ...
Tax Guru9d
Tax Incentives and Revenue Loss: Corporate Sector Update
Ministry of Finance addressed revenue loss and benefits related to tax incentives for corporates. From Assessment Year (AY) 2020-21 to AY 2024-25, companies claimed various income tax exemptions and ...
Explainer: How India's tax rate tweaks will boost middle class spending
The Indian government on Saturday announced the biggest tax relief in at least a decade to boost consumer demand to revive ...
Indiatimes18d
Income tax relief? Govt looks to raise threshold, restructure slabs
The government is considering raising the standard deduction and adjusting income tax slabs in the upcoming ... seen to be crucial in a country like India where individuals, barring those in ...
Tax Guru1d
Hypothetical Income Not Taxable Under Mercantile System: ITAT Chennai
ITAT Chennai held that although the assessee company was following the mercantile system of accounting, only real income could be brought to tax. Hypothetical income cannot be taxed. Hence, appeal of ...
CoinTelegraph13d
Indian crypto holders face 70% tax penalty on undisclosed gains
Cryptocurrency traders in India may face significant ... Unit. Crypto tax laws gained increased interest worldwide in June 2024 after the US Internal Revenue Service (IRS) issued a new crypto ...
India.com13d
Budget 2025: The Exchequer’s Coffers; An Analysis of India’s Revenue Composition
Budget 2025: Borrowings and Liabilities contribute the most to the budget’s revenue, making up 24% of the total. This is a slight drop from 27% last year. Income Tax ranks second, accounting for ...
India to tax undisclosed crypto gains under new amendments
India's Finance Minister Nirmala Sitharaman revealed significant changes to the country's tax laws, which will now encompass cryptocurrencies under Section 158B of the Income Tax Act. This section ...