https://www.taxtmi.com/article/detailed?id=13986 The document outlines India's taxation evolution and current structure, emphasising constitutional division of taxing powers, the distinction between direct and indirect taxes, and the administrative bases of taxable income. It highlights the Income Tax Act, 1961 as a dynamic, frequently amended statute and describes reform efforts: the un-enacted Direct Tax Code, 2013, and the Income Tax Bill, 2025, intended to simplify language, remove redundant provisions, reduce compliance burden, minimise litigation, and streamline taxpayer reporting, with the Bill referred to a Select Committee for consideration. en-us Tue, 01 Apr 2025 08:33:37 +0530 Tue, 01 Apr 2025 08:33:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=13986 The document outlines India's taxation evolution and current structure, emphasising constitutional division of taxing powers, the distinction between direct and indirect taxes, and the administrative bases of taxable income. It highlights the Income Tax Act, 1961 as a dynamic, frequently amended statute and describes reform efforts: the un-enacted Direct Tax Code, 2013, and the Income Tax Bill, 2025, intended to simplify language, remove redundant provisions, reduce compliance burden, minimise litigation, and streamline taxpayer reporting, with the Bill referred to a Select Committee for consideration. Articles Income Tax Tue, 01 Apr 2025 08:33:37 +0530 https://www.taxtmi.com/article/detailed?id=13986