As the government prepares to present the Union Budget for 2025 on February 1, the Central Board of Direct Taxes (CBDT) is working on a simplified version of the income tax laws. Sources have told CNBC-TV18 that the ongoing comprehensive review of direct tax laws aims to ease legal hurdles and reduce the litigation burden for both the government and the industry.
The finance ministry will commence from October 10 its pre-Budget meetings with review of six ministries and departments, including new & renewable energy and skill development & entrepreneurship.