Tax law reform consolidates and simplifies the income tax statute to reduce compliance burdens and improve administration.

The Statement of Objects and Reasons explains that the Income tax Bill, 2025 is proposed to repeal and replace the Income tax Act, 1961 to simplify and consolidate the statute, make its language concise and lucid, reduce taxpayer compliance costs, and improve direct tax administration; explanatory Notes on Clauses set out the Bill's provisions.

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