New Income Tax Bill 2025: What changes, what remains, and how it may impact taxpayers
One key update is the introduction of a “tax year,” which refers to the 12-month period starting from April 1, effectively replacing the term “assessment year.”
Are you required to choose the New Tax Regime once more in the 2025 Income-Tax Bill? What's the scope for Old Tax Regime
Taxpayers who have already selected the new tax regime in the Income-Tax Act 1961 will not need to choose it again in the upcoming Income Tax Bill 2025. The current regulations for selecting a tax regime will remain unchanged in the new bill.
New Income Tax Bill 2025: FAQs issued on provisions for salaried taxpayers, virtual digital assets & more — details
The new Income Tax Bill 2025 consolidates salary provisions for clarity, incorporating previous deductions into the salary chapter and simplifying TDS/TCS with tables. It aims to eliminate redundancy and enhance readability while maintaining the scope of existing tax provisions.
Income-Tax Bill, 2025: How the new Bill helps taxpayers breathe easy
The essence of the Bill remains the same and the existing tax base, tax rates, computation mechanism etc. have been largely unchanged.
What’s new in the Income Tax Bill, 2025
The Income-tax Bill cuts some clutter of the existing Act and introduces new illustrative tables, while maintaining continuity in most aspects. There are no major tweaks in penalty or compliance provi
Income Tax Dept releases FAQs on new Income Tax Bill, 2025: Check details
During the course of numerous amendments to the Income tax Act, 1961, several policy decisions were incorporated as separate provisions. Read below to know more about the Income Tax Bill 2025.
FM Sitharaman tables new Income Tax bill in Lok Sabha, virtual assets like crypto defined under income from other sources
The government on Thursday tabled the New Income Tax Bill, 2025, which aims to simplify tax laws, modernize definitions, and provide more clarity on various tax-related matters. This new bill, tabled in Lok Sabha by Finance Minister Nirmala Sitharaman,
Young and the Invested on MSN8d
How Do the 2025 Tax Brackets Compare to the 2024 Brackets?
Amidst the 2024 tax season, if you're keeping an eye on your taxes for next year, you're still keenly interested in what your ...
New Income Tax Bill 2025 LIVE Updates: FM Nirmala Sitharaman introduced new I-T Bill in Lok Sabha
New Income Tax Bill 2025 LIVE Updates: Union Finance Minister Nirmala Sitharaman has presented the new Income-Tax Bill 2025 ...
Accounting Today8d
State income tax rate changes for 2025
Nine of these states cut their individual income tax rates for 2025. The most significant change is in Iowa, which had an individual income tax rate of 5.70% in 2024 and now has a rate of 3.80% for ...
Tax Guru12d
Income Tax Rates for AY 2025-26 and 2026-27
The income tax rates for the assessment years (AY) 2025-26 and 2026-27 remain unchanged across categories. Under Section 115BAC, default rates for individuals and Hindu Undivided Families (HUF) ...
Rediff.com13d
New Tax Rates: Who Saves How Much
The tax rates are structured progressively, with higher rates applied to higher income slabs. This new regime is designed to benefit middle-income earners the most, offering substantial savings ...