Income Tax Bill News LIVE: The Union Cabinet is expected to approve the new Income Tax Bill, potentially leading to its introduction in the Lok Sabha early the following week6. This bill is part of a larger effort to reform the tax system, and aims to overhaul the existing tax structure to make it more streamlined and transparent6.
Income Tax Bill News LIVE: Govt aims new bill to be ‘clearer’ and ‘lesser text’
Income Tax Bill News LIVE: The Indian government aims that the new income tax bill will be clearer and expected to have 50% less text, as per FM Nirmala Sitharaman’s Budget 2025 announcement.Â
“The New Income Tax Bill will be clearer and will have around 50% lesser text compared to the present law, in terms of both chapters and words,” according to the Union Budget announcement.Â
Income Tax Bill News LIVE: Union Cabinet is likely to approve the new bill
Income Tax Bill News LIVE: According to media reports, Union Cabinet is likely to approve the new Income Tax Bill on Friday and the bill is likely to be introduced next week.
