February 10, 2025 2:02 PM

New Income Tax Bill to raise transparency in tax laws, say experts

The government is preparing to introduce a new Income Tax Bill aimed at simplifying tax laws and improving compliance. The bill is expected to use clear language to help taxpayers understand their obligations and rights. Union Finance Minister Nirmala Sitharaman is set to present the bill this week, after which it will be referred to the Parliament’s Standing Committee on Finance for review. The proposed changes align with the government's approach of placing trust in taxpayers before initiat...