https://www.taxtmi.com/article/detailed?id=14905 The Income Tax Bill, 2025 restructures the statute to simplify language and presentation while keeping tax rates unchanged, coupled with modernisation measures such as faceless assessment and e communication to improve compliance; the Lok Sabha Select Committee recommends penalty free late filing for refund claims, time limited dispute resolution, simplified rebates and conditional deductions for anonymous donations. The Bill also authorises expanded digital access by tax authorities to virtual data and compelled decryption, a controversial enforcement tool retained by the committee subject to implementation safeguards and clear operational guidelines. en-us Thu, 31 Jul 2025 07:01:45 +0530 Thu, 31 Jul 2025 07:01:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=14905 The Income Tax Bill, 2025 restructures the statute to simplify language and presentation while keeping tax rates unchanged, coupled with modernisation measures such as faceless assessment and e communication to improve compliance; the Lok Sabha Select Committee recommends penalty free late filing for refund claims, time limited dispute resolution, simplified rebates and conditional deductions for anonymous donations. The Bill also authorises expanded digital access by tax authorities to virtual data and compelled decryption, a controversial enforcement tool retained by the committee subject to implementation safeguards and clear operational guidelines. Articles Income Tax Thu, 31 Jul 2025 07:01:45 +0530 https://www.taxtmi.com/article/detailed?id=14905