💨 Abstract
The Income Tax Bill 2025, a simplified version of the 6-decade old Income Tax Act 1961, is set to replace it. The bill, consisting of 536 sections and 23 chapters, will be introduced in Lok Sabha on February 12th. The bill reduces the number of pages significantly and replaces the term 'previous year' with 'tax year'.
Courtesy: theprint.in
Summarized by Einstein Beta 🤖
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