https://www.taxtmi.com/news?id=34156 The Income Tax department has activated an online section wise mapping between the existing Income Tax Act and the simplified Income Tax Bill, 2025, enabling taxpayers to view corresponding clauses; the Bill reduces sections and chapters, introduces tables and formulae for computational clarity, removes provisos and explanations, replaces drafting terms to streamline language, omits redundant provisions, and introduces the tax year to replace previous and assessment year concepts, with commencement contingent on parliamentary approval. en-us Sat, 15 Feb 2025 12:46:02 +0530 Sat, 15 Feb 2025 12:46:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=34156 The Income Tax department has activated an online section wise mapping between the existing Income Tax Act and the simplified Income Tax Bill, 2025, enabling taxpayers to view corresponding clauses; the Bill reduces sections and chapters, introduces tables and formulae for computational clarity, removes provisos and explanations, replaces drafting terms to streamline language, omits redundant provisions, and introduces the tax year to replace previous and assessment year concepts, with commencement contingent on parliamentary approval. News - Sat, 15 Feb 2025 12:46:02 +0530 https://www.taxtmi.com/news?id=34156