The long-awaited Income Tax Bill, 2025—a major legislative effort to replace the 63-year-old Income Tax Act, 1961—was officially tabled in the Lok Sabha today, accompanied by a detailed report from the 31-member Select Committee led by BJP MP Baijayant Panda.
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The report marks a crucial step in overhauling India’s direct tax framework, aiming to simplify the law’s language and structure without altering underlying policy. The Committee’s 285 recommendations largely reflect stakeholder feedback focused on removing ambiguities, correcting drafting inconsistencies, and improving readability.
Read more at: Business Standard
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