Tax Law Simplification Archives

Income Tax Bill 2025: CBDT can frame rules for ITR forms, review credit card bills, bank accounts

21 February 2025 by Admin

The Centre has introduced the 2025 New Income Tax Bill in an effort to streamline and simplify the current tax regulations. The new I-T Bill 2025 stated that the existing Income Tax Act of 1961 has undergone multiple amendments, resulting in a burdened and complex language that has escalated compliance costs for taxpayers and hindered … Read more

Deloitte India Survey: 94% of India Inc. calls for simplified tax reforms to boost compliance, reduce litigation

4 December 2024 by Admin

As the Finance Ministry undertakes a comprehensive review of the Income Tax Act, a a new survey has revealed that 94% of industry leaders surveyed unanimously agree on the need for simplification of the current income tax law in India. “Interpretation of tax law and computing taxable income and tax payable are highlighted as the … Read more