New income-tax bill 2025: India is gearing up for a major tax reform with the income-tax bill 2025, which aims to simplife the tax structure and make it More Transparent, Efficient, and Business-Frindly. Set to be into introduced in parliament on Thursday, the bill seeks to replace the outdated Income Tax Act of 1961, which has become complicated due to constant amendments, coupleings, and exemptions.
Thought Past Changes was made with good interitions, they LED to confusion, Rising Legal Disputes, and Higher Compliance Costs, Making the Tax System Harder to Navigate for Taxpayers.
New Income-tax bill 2025 Reduces Word Counts
The income-tax bill 2025 proposes cutting down the number of sections by almost hal, from 819 to 536, Eliminating Redundant Examptions, and Reduction the Total Word Count from 5 Lakh to 2.5 Lakh. One of the Major Shifts in India’s Tax Policy Began in 2017-18 When Corporate Tax Rates were lowered while eliminating Several Deductions.
Why New Income-tax bill 2025 is Crucial?
This movie made the system Fairr, Benefiting Small Businesses that Previously Struggled With Complex Tax Structures. By eliminating unnecessary tax incentives and moving towards a fairer tax structure, the government aims to ensure that all taxpayers contribute their share share share sharee This will strengthen India’s tax base and improve revenue stability in the long run. The bill also also brings India’s tax system closer to global best practices.
By Learning from successful tax models world, the government hopes to boost investor confidence and attract more foreign businesses. A Well-Structured, Transparent Tax System Makes India a more attractive destination for economy growth.
New Income-tax bill 2025: key features
One of the key features of the new bill is its focus on Technology-Driven Tax Compliance. As digital tools become more advanced, tax scrutiny and filing are shifting towards Automation and AI-Driven Assessments to Make Tax Tax Administration more Efficient and Reduce Tax Evasion.
To ensure green tax provisions to explain tax provisions to explain tax provisions to make it easier for individuals and businesses to interpreet. By simplifeing tax laws, the income-tax bill 2025 will allow businesses to focus more on growth and investment rather than tax planning. The combination of lower rates and clear regulations creates a more business-friendly environment, which will drive economic expansion. (With IANS Inputs)