https://www.taxtmi.com/news?id=33110 A new Income Tax Bill will replace the Income Tax Act, 1961, incorporating Budget 2025-26 changes to rates, slabs and TDS while not imposing new taxes or major policy changes. The drafting emphasises simplification-minimising long sentences, provisos and explanations, removing obsolete provisions, and using plain language to make the law accessible to taxpayers; the Bill was prepared within six months and is expected to be placed before the Cabinet prior to Parliamentary introduction. en-us Thu, 06 Feb 2025 17:31:03 +0530 Thu, 06 Feb 2025 17:31:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=33110 A new Income Tax Bill will replace the Income Tax Act, 1961, incorporating Budget 2025-26 changes to rates, slabs and TDS while not imposing new taxes or major policy changes. The drafting emphasises simplification-minimising long sentences, provisos and explanations, removing obsolete provisions, and using plain language to make the law accessible to taxpayers; the Bill was prepared within six months and is expected to be placed before the Cabinet prior to Parliamentary introduction. News - Thu, 06 Feb 2025 17:31:03 +0530 https://www.taxtmi.com/news?id=33110