Income Tax, bill

What’s new in the Income Tax Bill, 2025
The Income-tax Bill cuts some clutter of the existing Act and introduces new illustrative tables, while maintaining continuity in most aspects. There are no major tweaks in penalty or compliance provi
New Income Tax Bill 2025 to propose no tweaking between old, new tax regimes every tax year; here's what it means for taxpayers
The proposed bill states upon choosing the new regime, taxpayers are unable to revert to the previous system in subsequent years unless specific criteria are breached. In this framework, taxpayers must forego some deductions and exemptions in return for a reduced tax rate under the New Tax Regime.
New Income Tax bill focuses simpler rules; makes no structural changes
The new Income Tax Bill is more about consolidation of scattered tax provisions, simplification and elimination of redundant laws than about rate ir
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.
New Income Tax Bill, 2025, set to replace 1961 Act from Apr 2026
The Income Tax Bill, 2025, which is expected to be tabled in Parliament soon, will come into effect from April 1, 2026, replacing the Income Tax Act, 1961, Business Standard.
Tax yr, crypto, salary deductions: What you should know about New Tax Bill
The new bill has also provided repeals and savings clause to ensure that rights and benefits accrued to the taxpayers under ...
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Old Vs. New Tax Regime: Which One Should You Choose?
How To Opt for Old Tax Regime Currently, a taxpayer with income from a business or profession is required to file Form 10IE to opt for the new tax regime. This form was introduced in ...
New income tax slabs for FY 2025-26: 30% tax now starts at Rs 24 lakh, income up to Rs 20 lakh to be taxed at 20% in Budget 2025
The new tax regime is the default tax regime. Currently, the highest tax rate of 30% is applicable from net taxable income ...
Best of both worlds: How couples can plan taxes to make the most of old and new regimes
With Budget 2025 raising break-even limits, tax savings under the old regime seem tougher. But for salaried couples in ...
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Tax Tips: Has the old tax regime become useless in front of the new one? No, the old is still better for these people..
Do you know that a large part of your earnings goes in the form of tax? But now this will not happen! The central government has made such changes in the new tax system that will leave more money in ...
What Rs 12 Lakh Exemption Means And How Tax Is Calculated If You Earn More
The government has revised the tax structure under the new regime with Finance Minister Nirmala Sitharaman announcing that ...
Income Tax Budget 2025 Highlights: Who is likely to benefit most from FM Nirmala Sitharaman's tax slab change?
Finance Minister Nirmala Sitharaman announced new tax slabs in the new tax regime 2025, so there will be no income tax for ...
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Form 10-IE Filed, But Old Regime Return filed: ITAT Pune Rejects New Tax Regime Enforcement
JCIT (A) upheld the CPC’s action, stating that under section 115BAC, once the option for the new regime is exercised, it cannot be withdrawn for the current year, only for subsequent years. However, ...