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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Income Tax Bill 2025 Withdrawn, New Version To Be Introduced On Monday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Bill 2025, which was introduced in the Lok Sabha on February 13 to replace the Income Tax Act, 1961, has been formally withdrawn.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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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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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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New Date To Link Aadhaar And PAN. Check Here
If a taxpayer fails to link the two documents, his/her PAN card will become inoperative. The taxpayer will not be able to furnish, intimate or quote his PAN in such cases.
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Keep Away From Benami Transactions, Warns Income Tax Department
The department started initiating action under the new Benami Transactions (Prohibition) Amendment Act, 2016 from November 1, 2016.
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Sold Properties To Buy A New House? Income Tax Ruling You Need To Know
Section 54F of Income Tax Act deals with exemption on long-term capital gains arising from sale of capital assets like plot of land and commercial house property.
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Income Tax Act Not Discriminatory, Treats All Assesses Alike: Supreme Court
The Supreme Court has termed as "fallacious" an argument that the new provision of the Income Tax Act making Aadhaar mandatory for filing income tax returns, is discriminatory and creates two classes.
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Income Tax Department Launches New Facility To Link Aadhaar With PAN
The Income Tax department has launched a new e-facility to link a person's Aadhaar with the Permanent Account Number (PAN), a mandatory procedure for filing Income Tax returns now.
-
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.
-
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.
-
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.
-
New Date To Link Aadhaar And PAN. Check Here
If a taxpayer fails to link the two documents, his/her PAN card will become inoperative. The taxpayer will not be able to furnish, intimate or quote his PAN in such cases.
-
Keep Away From Benami Transactions, Warns Income Tax Department
The department started initiating action under the new Benami Transactions (Prohibition) Amendment Act, 2016 from November 1, 2016.
-
Sold Properties To Buy A New House? Income Tax Ruling You Need To Know
Section 54F of Income Tax Act deals with exemption on long-term capital gains arising from sale of capital assets like plot of land and commercial house property.
-
Income Tax Act Not Discriminatory, Treats All Assesses Alike: Supreme Court
The Supreme Court has termed as "fallacious" an argument that the new provision of the Income Tax Act making Aadhaar mandatory for filing income tax returns, is discriminatory and creates two classes.
-
Income Tax Department Launches New Facility To Link Aadhaar With PAN
The Income Tax department has launched a new e-facility to link a person's Aadhaar with the Permanent Account Number (PAN), a mandatory procedure for filing Income Tax returns now.
