Income Tax Bill 2025: I-T department launches self-mapping tool to compare old act, new bill

Income Tax Bill 2025: I-T department launches self-mapping tool to compare old act, new bill

Income Tax Bill 2025 was introduced in a bid to simplify the tax filing process by reducing provisions and acts. Taxpayers can now compare the sections of the Income Tax Act, 1961 with the corresponding clauses in the simplified I-T Bill, 2025, on the Income Tax department portal. The Income Tax Department has made available … Read more

Income Tax Bill 2025: Taxation of cryptocurrencies, winnings of online games to be cleared

Income Tax Bill 2025: Taxation of cryptocurrencies, winnings of online games to be cleared

The Centre is all set to introduce the new Income Tax Bill 2025 to replace the existing Income Tax Act of 1961. This significant tax reform is aimed at streamlining the complex tax filing process, albeit with stricter regulations, particularly concerning crypto assets and digital transactions. One of the key amendments in the bill is … Read more