India's New Income Tax Act: Stakeholder Insights Sought
The Income Tax department is inviting stakeholders to provide input on the draft rules and forms of the new Income Tax Act, 2025. The proposed changes aim to simplify language, reduce litigation and compliance burdens, and eliminate obsolete rules. Feedback is encouraged via an e-filing portal.
- Country:
- India
The Income Tax department has opened a platform for stakeholders to offer feedback on draft rules and forms under the new Income Tax Act, 2025. The legislation, effective April 1, replaces the longstanding 1961 Act.
Proposed rules, accessible on www.incometaxindia.gov.in, are part of a broader consultation effort by the Central Board of Direct Taxes (CBDT). Stakeholders can submit critiques in four categories: language simplification, litigation reduction, compliance burden reduction, and elimination of outdated rules.
An e-filing portal facilitates this process, requiring name and mobile number confirmation via OTP. The initiative aims to streamline tax administration by condensing existing rules and forms from 511 to 333 and 399 to 190, respectively.
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