Quick Summary
The Income-tax Bill, 2025 and The Taxation Laws (Amendment) Bill, 2025 have received the President's assent on August 21, 2025. With this, both legislations have officially become law. The passage of these two crucial tax legislations marks a significant milestone in the government's efforts to streamline, modernize and simplify India's direct tax regime. I. The Income Tax Bill, 2025 Expected to redefine the structure of direct taxation in India, this Bill replaces the existing framework wi
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FAQ :
The President gave assent to The Income Tax Bill, 2025 and The Taxation Laws (Amendment) Bill, 2025 on August 21, 2025.
The Income Tax Bill, 2025 aims to redefine India's direct taxation structure with a more contemporary and transparent system, intended to improve compliance, reduce litigation, and create a more taxpayer-friendly environment.
The Taxation Laws (Amendment) Bill, 2025 proposes tax exemptions for Unified Pension Scheme payouts, enhances the standard deduction, and refines search case block assessments.
Both legislations fall under the Ministry of Finance.
Experts believe these changes could significantly enhance the ease of doing business in India and boost investor confidence in the country's taxation framework.
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