https://www.taxtmi.com/news?id=33891 The Income-tax Bill, 2025, introduced in Lok Sabha and referred to a select committee, consolidates and replaces the Income tax Act, 1961 with effect from 1 April 2026; it charges income tax for a tax year on the total income of every person at rates enacted by a Central Act, revises residence and sourcing rules (including deemed receipts and accruals), updates heads of income and computation rules, introduces comprehensive transfer pricing and GAAR provisions, and restructures tax administration, procedure, transitional savings and delegated rule making. en-us Thu, 13 Feb 2025 14:46:03 +0530 Wed, 11 Feb 2026 16:00:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=33891 The Income-tax Bill, 2025, introduced in Lok Sabha and referred to a select committee, consolidates and replaces the Income tax Act, 1961 with effect from 1 April 2026; it charges income tax for a tax year on the total income of every person at rates enacted by a Central Act, revises residence and sourcing rules (including deemed receipts and accruals), updates heads of income and computation rules, introduces comprehensive transfer pricing and GAAR provisions, and restructures tax administration, procedure, transitional savings and delegated rule making. News - Thu, 13 Feb 2025 14:46:03 +0530 https://www.taxtmi.com/news?id=33891