Finance Minister Nirmala Sitharaman reveals Income Tax Bill 2025 took 60,000 man-hours to draft. The bill simplifies tax laws, modernizes the 1961 Act and stresses timely implementation and taxpayer trust.
CBDT Chairman Ravi Agarwal says work is underway to frame rules and forms under the Income Tax Bill 2025. The new framework will prioritize clarity, simplicity and voluntary compliance.
The Income Tax Bill 2025 aims to simplify tax laws, reduce litigation, and consolidate TDS provisions, says MP PP Chaudhary. The bill replaces the 1961 Act with fewer words and clearer language.
As part of Income Tax Day celebrations, the Income Tax Department Srinagar conducted a tax awareness programme in Sopore, led by Chief Commissioner Vikram Sahay, to promote compliance and taxpayer confidence.
A Rajasthan labourer discovers an Rs 18 crore fake firm registered in his name in Delhi, exposing a GST fraud of over Rs 3 crore. Police and tax officials launch a probe into the shocking identity theft case.
The Income Tax Department is using AI and data analytics to monitor taxpayer behavior, flag high-value transactions and boost compliance.
The Income Tax Department has released Version 1.1 of the Excel-based ITR-3 utility on July 24, 2025, for individuals and HUFs earning income from business or profession.
Finance Ministry clarifies in Rajya Sabha that there is no proposal to levy GST on UPI transactions above Rs 2000, as no such recommendation has been made by the GST Council.
Despite over 5 lakh pending cases at the CIT (A) level, the Finance Ministry has declined to impose statutory deadlines for disposal of income tax appeals, citing the judicial nature of proceedings and complexity of cases.
The proposed Income Tax Bill, 2025, has sparked a privacy debate over provisions allowing access to taxpayers’ digital devices, emails, and social media. CBDT assures data privacy safeguards and the release of a digital search manual.
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