💨 Abstract

The simplified Income Tax Bill 2025, comprising 536 sections, is expected to be introduced in the Indian Parliament on Thursday. It aims to replace the Income Tax Act, 1961, which has become too voluminous due to amendments over six decades. The Bill uses simpler language, shorter sentences, and tables to make it easier to read and comprehend.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖