Explains how the new tax code replaces the 1961 Act with simpler rules and fewer exemptions. The key takeaway is a clearer, taxpayer-centric framework effective from April ...

<div>Finance Minister P Chidambaram said on 28 August that the Direct Taxes Code (DTC), initiated by him during his earlier tenure, needed a fresh look. After a ...

The Income-Tax Bill, 2025, set to replace the six-decade-old Income Tax Act, 1961, brings significant refinements to India’s tax framework. However, unlike the Direct Taxes Code (DTC) proposals of ...

New Income Tax Bill 2025 Highlights: The Union Cabinet approved the new Income Tax Bill on Friday, February 7, 2025. The new direct tax code is expected to be introduced in the Lok Sabha this week.

The new bill, which will be applicable from April 1, will focus on bringing new reforms along with simplification and rationalization of the tax filing process. The new Income Tax Bill, also referred ...

The government has formed a task force to draft a new direct tax legislation. The task force will submit its report in six months. The members of the panel are Arbind Modi, Girish Ahuja, Rajiv Memani, ...