Income-Tax Bill, 2025
Syllabus: Indian Economy and issues relating to planning, mobilization of resources Source: TH Context The Income-Tax Bill, 2025, was introduced in Parliament to replace the Income-Tax Act, 1961, aiming for a simplified structure, clearer language, and reduced litigation. A key highlight is the introduction of the ‘tax year’ concept, replacing the existing ‘assessment year.’ However, …
