Income Tax Bill 2025 Details: Key Highlights & Applicability
The much-anticipated Income Tax Bill 2025 was officially presented in Parliament on February 13, 2025. This legislation aims to modernize the Indian tax system, simplify complex provisions, and enhance transparency. A dedicated committee has been formed to review the bill and provide its report by the first day of the Monsoon Session. The government has also released the draft for public review, allowing taxpayers and professionals to understand its impact. Let’s dive into the significant updates and their implications.