https://www.taxtmi.com/news?id=32477 A new Income Tax Bill will replace the Income-tax Act, 1961 to create a shorter, clearer direct tax code built on the principle of "Nyaya" and a "trust first, scrutinise later" approach; the Bill aims to halve the present law's scope, enhance tax certainty, reduce litigation, and will be referred to the parliamentary Standing Committee after review by an internal committee and multiple specialised subcommittees informed by extensive stakeholder suggestions. en-us Sat, 01 Feb 2025 18:01:03 +0530 Sat, 01 Feb 2025 18:01:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=32477 A new Income Tax Bill will replace the Income-tax Act, 1961 to create a shorter, clearer direct tax code built on the principle of "Nyaya" and a "trust first, scrutinise later" approach; the Bill aims to halve the present law's scope, enhance tax certainty, reduce litigation, and will be referred to the parliamentary Standing Committee after review by an internal committee and multiple specialised subcommittees informed by extensive stakeholder suggestions. News - Sat, 01 Feb 2025 18:01:03 +0530 https://www.taxtmi.com/news?id=32477