what-is-the-new-income-tax-bill-2025?-income-tax-act-1961-to-be-replaced;-top-points-taxpayers-should-know

New Income Tax Bill 2025: The Lok Sabha has passed the New Income Tax Bill 2025, a major overhaul aimed at simplifying tax procedures for individuals and corporations. The revised bill, incorporating recommendations from a Parliamentary Select Committee, reduces text volume, streamlines the taxation timeline, and clarifies provisions for refunds and deductions.