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19 Bills, Including New Income Tax Act, Passed Without Protesting Opposition
Nineteen bills - including two critical proposals, one to overhaul the Income Tax Act of 1961 and another to amend the Constitution to sack ministers facing criminal charges - were passed sans discussion or debate with the opposition.
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Income Tax (No 2) Bill Clears Lok Sabha. What Is In 'S.I.M.P.L.E' New Law?
The Income Tax (No 2) Bill cleared the Lok Sabha sans debate Monday but to the cacophony of opposition MPs protesting the voter list revision in Bihar.
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Income Tax Bill 2025 Withdrawn, New Version To Be Introduced On Monday
The Income Tax Bill 2025, which was introduced in the Lok Sabha on February 13 to replace the Income Tax Act, 1961, has been formally withdrawn.
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New Income Tax Bill Halves Word Count, Eases Compliance: Baijayant Jay Panda
BJP MP and Chairman of the Finance Select Committee, Baijayant Jay Panda said that the newly proposed Income Tax Bill aims to make compliance easier for taxpayers without altering tax policies or rates.
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Arms Dealer Sanjay Bhandari Declared Fugitive Economic Offender By Delhi Court
A Delhi special court on Saturday declared UK-based arms dealer Sanjay Bhandari a Fugitive Economic Offender under the Fugitive Economic Offenders (FEO) Act, in connection with an income tax case involving undisclosed foreign assets.
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Faked Tax Deductions? You Could Face A 200% Penalty Under Income Tax Rules
New ITR-1 and ITR-4 forms now require detailed documentation for deductions and claims, promoting transparency and accuracy.
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National Mission For Clean Ganga Gets Income Tax Exemption Status
The Finance Ministry has granted tax exemption status to the National Mission for Clean Ganga, according to a notification of the CBDT, the decision-making body for the Income Tax department and direct taxes administration.
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Income Tax Bill 2025 Clarifies Virtual Digital Asset Definition, Includes NFTs: Key Details
The Income Tax Bill 2025 classifies any cryptographically generated code, number, or token representing inherent value as part of the country's VDA ecosystem.
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New Income Tax Bill Tabled In Parliament. Here's What Is Different In It
Finance Minister Nirmala Sitharaman tabled the new income tax bill - which she had mentioned in her Budget speech on February 1, and which is expected to reduce the jargon in the Income-Tax Act of 1961, making it easier to understand.
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Cabinet Clears New Income Tax Bill: Report
The Union Cabinet on Friday approved the new income tax bill, which will replace the six decades old I-T Act, sources said.
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What Is Direct Tax Code And How It Is Different From Income Tax Act, 1961
A set of new tax laws called the Direct Tax Code is likely to simplify compliance for taxpayers soon.
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Is There New, 'Simpler' Income Tax Act In Budget 2025? What Sources Said
The Direct Tax Code - a new income tax bill meant to simplify compliance for individual taxpayers - will be introduced separately, and not as part of the Union Budget to be delivered by Finance Minister Nirmala Sitharaman on Saturday morning.
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Top Tax Authority CBDT Forms Panel To Review Income Tax Law
An internal committee of the Income Tax Department will review the 1961 direct tax law to eliminate redundant clauses as well as adopt best global practices to simplify it for taxpayers for better compliance, CBDT chief Ravi Agrawal has said.
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Income Tax Was Introduced On This Day: Celebrating India's Fiscal Milestone
This day marks a significant milestone in India's fiscal history, laying the groundwork for the country's tax system.
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Deadline Over, Pay Higher Tax If You Haven't Done This
Under Section 206AA and 206CC, failure to link will result in twice the usual TDS rate and other financial consequences.
-
19 Bills, Including New Income Tax Act, Passed Without Protesting Opposition
Nineteen bills - including two critical proposals, one to overhaul the Income Tax Act of 1961 and another to amend the Constitution to sack ministers facing criminal charges - were passed sans discussion or debate with the opposition.
-
Income Tax (No 2) Bill Clears Lok Sabha. What Is In 'S.I.M.P.L.E' New Law?
The Income Tax (No 2) Bill cleared the Lok Sabha sans debate Monday but to the cacophony of opposition MPs protesting the voter list revision in Bihar.
-
Income Tax Bill 2025 Withdrawn, New Version To Be Introduced On Monday
The Income Tax Bill 2025, which was introduced in the Lok Sabha on February 13 to replace the Income Tax Act, 1961, has been formally withdrawn.
-
New Income Tax Bill Halves Word Count, Eases Compliance: Baijayant Jay Panda
BJP MP and Chairman of the Finance Select Committee, Baijayant Jay Panda said that the newly proposed Income Tax Bill aims to make compliance easier for taxpayers without altering tax policies or rates.
-
Arms Dealer Sanjay Bhandari Declared Fugitive Economic Offender By Delhi Court
A Delhi special court on Saturday declared UK-based arms dealer Sanjay Bhandari a Fugitive Economic Offender under the Fugitive Economic Offenders (FEO) Act, in connection with an income tax case involving undisclosed foreign assets.
-
Faked Tax Deductions? You Could Face A 200% Penalty Under Income Tax Rules
New ITR-1 and ITR-4 forms now require detailed documentation for deductions and claims, promoting transparency and accuracy.
-
National Mission For Clean Ganga Gets Income Tax Exemption Status
The Finance Ministry has granted tax exemption status to the National Mission for Clean Ganga, according to a notification of the CBDT, the decision-making body for the Income Tax department and direct taxes administration.
-
Income Tax Bill 2025 Clarifies Virtual Digital Asset Definition, Includes NFTs: Key Details
The Income Tax Bill 2025 classifies any cryptographically generated code, number, or token representing inherent value as part of the country's VDA ecosystem.
-
New Income Tax Bill Tabled In Parliament. Here's What Is Different In It
Finance Minister Nirmala Sitharaman tabled the new income tax bill - which she had mentioned in her Budget speech on February 1, and which is expected to reduce the jargon in the Income-Tax Act of 1961, making it easier to understand.
-
Cabinet Clears New Income Tax Bill: Report
The Union Cabinet on Friday approved the new income tax bill, which will replace the six decades old I-T Act, sources said.
-
What Is Direct Tax Code And How It Is Different From Income Tax Act, 1961
A set of new tax laws called the Direct Tax Code is likely to simplify compliance for taxpayers soon.
-
Is There New, 'Simpler' Income Tax Act In Budget 2025? What Sources Said
The Direct Tax Code - a new income tax bill meant to simplify compliance for individual taxpayers - will be introduced separately, and not as part of the Union Budget to be delivered by Finance Minister Nirmala Sitharaman on Saturday morning.
-
Top Tax Authority CBDT Forms Panel To Review Income Tax Law
An internal committee of the Income Tax Department will review the 1961 direct tax law to eliminate redundant clauses as well as adopt best global practices to simplify it for taxpayers for better compliance, CBDT chief Ravi Agrawal has said.
-
Income Tax Was Introduced On This Day: Celebrating India's Fiscal Milestone
This day marks a significant milestone in India's fiscal history, laying the groundwork for the country's tax system.
-
Deadline Over, Pay Higher Tax If You Haven't Done This
Under Section 206AA and 206CC, failure to link will result in twice the usual TDS rate and other financial consequences.
