India  

I-T Bill seeks to simplify tax laws, but no major overhaul

IndiaTimes Wednesday, 12 February 2025 ()
Finance Minister Nirmala Sitharaman is set to introduce a new 622-page Income Tax Bill in simpler language, replacing the 64-year-old law. The bill aims to reduce litigation by eliminating complex terms, outdated references, and multiple cross-references. It also introduces clearer provisions, including a taxpayer charter, crypto asset definitions, and updated definitions of agricultural income.
0
shares
ShareTweetSavePostSend
 

You Might Like


💡 newsR Knowledge: Other News Mentions

Nirmala Sitharaman Nirmala Sitharaman Indian economist and politician (born 1959)

TMC institutionalised graft, gutted institutions in West Bengal: FM Nirmala Sitharaman

Finance minister Nirmala Sitharaman accused the Trinamool Congress (TMC) of mismanagement and corruption in the implementation of centrally-sponsored schemes in..
IndiaTimes

'Institutionalised corruption, gutted institutions': Nirmala Sitharaman's jab at TMC in Lok Sabha address

Finance Minister Nirmala Sitharaman accused the Trinamool Congress of fostering corruption and undermining institutions. She also highlighted issues in the..
IndiaTimes

FM Sitharaman quotes Raghuram Rajan to explain Rupee's depreciation against dollar

Union finance minister Nirmala Sitharaman cites former RBI Governor Raghuram Rajan during her Lok Sabha address concerning the rupee's depreciation against the..
IndiaTimes

'RBI's gold buying is...': FM Nirmala Sitharaman talks about rising gold reserves by central bank

Finance Minister Nirmala Sitharaman on Monday clarified in the Lok Sabha that India's rising gold reserves, including those held by the Reserve Bank of India..
DNA