New Income Tax Bill New Income Tax Bill Finance Minister Nirmala Sitharaman introduced the New Income Tax Bill, 2025 in the Lok Sabha on February 13, aiming to simplify the existing Income Tax Act, 1961. If passed, the new law will come into effect from April 1, 2026. One of the key reforms proposed in … Read more
Property and Co-Owned Property Will Be Taxed Property and Co-Owned Property Will Be Taxed The Income Tax Bill 2025, recently introduced in the Lok Sabha by Union Finance Minister Nirmala Sitharaman, aims to simplify and streamline taxation laws. Spanning 620 pages, the bill is nearly 50% shorter than the existing Income Tax Act. Among the … Read more
New Income Tax Bill New Income Tax Bill Finance Minister Nirmala Sitharaman is all set to introduce the New Income Tax Bill in the Lok Sabha, marking a significant step towards tax reform in India. This bill aims to replace the six-decade-old Income Tax Act, 1961, with a more modern, simplified, and taxpayer-friendly law. The … Read more
Income Tax under the Old Tax Regime Income Tax under the Old Tax Regime Budget 2025 Key Proposal: The government has introduced a full tax rebate for individuals earning up to ₹12 lakh per year under the new tax regime. With the ₹75,000 standard deduction, anyone with an annual income of ₹12.75 lakh (₹1.06 lakh … Read more
Major Income Tax Changes for FY 2025-26 Major Income Tax Changes for FY 2025-26 The Union Budget 2025 has introduced significant changes to the income tax structure, bringing relief to middle-income earners while making substantial revisions to the rebate system under Section 87A. This budget aims to simplify tax compliance and enhance revenue collection by … Read more
