The amended Income Tax Bill aims to settle the persistent dispute over the definition and tax treatment of Non-Performing Assets (NPAs). The Select Committee of Parliament has adopted its report on the new Bill, which is expected to be submitted to the Lok Sabha Speaker early …
New Income Tax Bill: Key Provisions Strengthen tax authorities’ ability to track undisclosed income. Enable tax officers to seize assets in evasion cases. Allow digital communications, including WhatsApp messages, emails and financial app records, to be considered as valid evidence. Improve tax collection efficiency and reduce litigation in high-value cases. Rising …
A select committee of Parliament convened to discuss the provisions of the proposed New Income Tax Bill, a key reform initiative aimed at overhauling India’s direct tax structure. The meeting, chaired by BJP MP Baijayant Panda, was attended by senior lawmakers and officials, including Finance Minister Nirmala Sitharaman. …
The Income Tax Bill 2025 seeks to create a more transparent and efficient tax framework for Non-Resident Indians (NRIs) by addressing long-standing concerns and reducing litigation risks, according to tax experts. The government’s attempt to enhance readability and remove ambiguities in the new Bill is expected …
The much-anticipated new Income Tax Bill has put an end to speculation regarding the abolition of the old tax regime, confirming that it will continue to coexist with the new regime. The Bill, once introduced, will be referred to the department-related Standing Committee on Finance for …
