July 29, 2025 11:04 PM
No change in tax rates under Income Tax Bill 2025: IT Department
The Income Tax Department on Tuesday issued a clarification on the proposed Income Tax Bill 2025, stating that it is aimed solely at simplifying the language and removing redundant or outdated provisions, and does not propose any change in tax rates. The clarification came after several media reports and social media posts claimed that the new bill would alter Long Term Capital Gains (LTCG) tax rates for certain categories of taxpayers. Some reports even suggested that the existing tax exempti...