Finance Minister Nirmala Sitharaman has tabled new Income Tax Bill 2025 on Thursday, February 13. The Bill aims to simplify the language of the existing law as amended to date. Sitharaman had announced the I-T bill during her Budget speech on February 1 and was approved by the Cabinet on February 7.
According to a post on X by Income Tax India, “The New Income-tax Bill, 2025 has been tabled in Parliament.”
The New Income-tax Bill, 2025 has been tabled in Parliament.
The Bill aims to simplify the language of the existing law as amended to date.
The Bill is available at our website https://t.co/z0wOo162Xq
Our FAQs address common queries regarding the objectives and the outcome of… pic.twitter.com/txfke5wKo8
— Income Tax India (@IncomeTaxIndia) February 13, 2025
The legislation will replace the Income Tax Act, 1961, which has grown extensively due to numerous modifications carried out over six decades. The new law is expected to take effect on April 1, 2026.
This is a developing story. More details will be added shortly.
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