Tax Bill, Income

New Income Tax Bill
No major tax policy changes to ensure continuity and certainty. 3. No modifications of tax rates, preserving predictability for taxpayers. New Income Tax Bill 2025 Live: Single concept of a tax year is easy to understand At first blush,
New Income Tax Bill 2025 will simplify 'tax year' definition
One of the key updates is the replacement of the term "assessment year" with "tax year”, aiming to simplify taxpayer understanding.
New Income-Tax Bill: Simplified, shorter, new concept of ‘tax year’
The Bill, which is likely to be introduced in Parliament on Thursday, has now defined a new concept of ‘tax year’ as the 12-month period beginning from April 1.
New Income Tax bill explained: What's changing and what's not
It aims to simplify the existing Income Tax Act, 1961, by making it more structured and easier to understand. If passed, the new law will come into effect from April 1, 2026.
Income Tax Bill 2025: Here's how taxation of agricultural income, farmland has been tweaked
Section 10 of the Income Tax Act, which previously outlined exemptions for various types of income, including agricultural income, partnership firm profits, family pensions, scholarships, interest on NRE / FCNR deposits,
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,
What are this year's tax brackets? What they mean, key filing dates, when to expect a refund
As the IRS continues to accept returns, here's what to know about tax rates for year 2024, how to track your refund and dates ...
New Income Tax Bill leaves the definition of NRIs & residents unchanged
The upcoming Income Tax Bill will redefine tax residency criteria, affecting Non-Resident Indians (NRIs) earning Rs 15 lakh ...
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 ...
New Income-Tax bill to provide clearer definition of online games
The Income Tax Bill, 2025 defines 'online game' as any game offered on the internet and accessible through a computer or ...
Key update on plan to raise income tax thresholds from £12,570 to £20,000 as MP debate barrier passed
Support soars for petition meaning that MPs could debate tax freeze which is 'unfairly targeting the poorest paid' in Commons ...
What does no income tax up to ₹12 lakh really mean? Decoding differences between tax rebate, deduction & exemption
Finance Minister Nirmala Sitharaman raised the nil income tax slab to ₹12 lakh for salaried individuals. This entails a tax ...
Tax season is underway. Here are key dates and deadlines that WA residents need to know
From federal income tax to Washington state’s property and capital gains taxes, here’s a guide to procedures and deadlines ...