IncomeTaxBill2025 Archives - Universal Group Of Institutions

05Mar 2025

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Income-Tax Act, 1961 vs. Income-Tax Bill, 2025

Syllabus: GS 3: Indian Economy Why in the News? Recently, the Union Finance Minister introduced the Income-Tax Bill, 2025, aiming to replace the Income-Tax Act, 1961. The bill seeks to simplify tax laws but raises concerns over legal complexities and expanded government powers. Income-Tax Bill, 2025: Reform or Mere Repackaging? Union Finance Minister introduced the …

14Feb 2025

Income-tax Bill, 2025: Simplifying India’s Direct Tax Framework

Syllabus: GS-3: Mobilization of Resources , Fiscal Policy Focus: The Income-tax Bill, 2025, introduced in the Lok Sabha, aims to replace the Income-tax Act, 1961, by removing outdated provisions, simplifying tax laws, and reducing litigation. It introduces clear tabular formats, eliminates redundant sections, and replaces the ‘Assessment Year’ with ‘Tax Year’, ensuring a more transparent …

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Income-Tax Act, 1961 vs. Income-Tax Bill, 2025

Income-tax Bill, 2025: Simplifying India’s Direct Tax Framework