India’s New Income Tax Act: A Simpler Future Ahead
Finance Minister Nirmala Sitharaman aims for a user-friendly tax system with the new Income Tax Act, 2025. Adopting technology to spot evaders and simplifying the law's language, the Act introduces fewer sections while promoting awareness. The initiative highlights transparency and reducing litigation.
- Country:
- India
Finance Minister Nirmala Sitharaman has issued a directive to income tax officers to facilitate a more streamlined process for taxpayers and leverage technology to identify intentional tax evaders.
Speaking at the 'PRARAMBH 2026: Nationwide Awareness Campaign on the Income Tax Act, 2025', Sitharaman expressed optimism about the new Income Tax Act, 2025, effective from April 1, which aims to make India more tax-friendly.
Replacing the six-decade-old 1961 Act, the new legislation reduces redundancies, cuts chapters and sections, and introduces tables and formulas for clarity, with a focus on reducing litigation cases and spreading awareness through local languages.
ALSO READ
-
Uttarakhand GST Raid: Unveiling a Rs 150 Crore Tax Evasion Scheme
-
Fiscal deficit will be within Revised Estimates for FY26: Finance Minister Nirmala Sitharaman.
-
AFA's Claudio Tapia Faces Court Over Alleged Tax Evasion
-
Amazon's Legal Battle in Italy: An Unprecedented Tax Evasion Case
-
Milan Prosecutors Uncover Unprecedented Tax Evasion Case Against Amazon
Google News