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The Income Tax Bill, 2025, intended to simplify tax laws and modernize India's six-decade-old income tax framework, took an estimated 60,000 man-hours to draft, Finance Minister Nirmala Sitharaman revealed during her address at the 166th Income Tax Day celebration. "Since 1961, the Act had not unde
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FAQ :
The drafting of the Income Tax Bill, 2025, took an estimated 60,000 man-hours.
The bill is intended to simplify tax laws and modernise India's income tax framework, replacing the Income Tax Act, 1961.
It simplifies legal jargon, streamlines sections, and drastically reduces the word count and number of sections to make interpretation easier.
Yes, the bill has undergone an extensive review by a select parliamentary committee, which submitted 566 observations and recommendations.
The five priorities are: speedy disposal of pending tax demands, timely issuance of tax refunds, withdrawal of minor and low-value appeals, prompt redressal of taxpayer grievances, and enhanced regional performance monitoring.
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