New Income Tax Bill cleared by Cabinet: What is it?

New Income Tax Bill: The Union Cabinet has approved the New Income Tax Bill, which aims to replace the 1961 Act by simplifying direct tax legislation. This proposed bill, featuring clearer language and concise sentences, is expected to reduce legal disputes and will be reviewed during the Budget session.

​New Income Tax Bill: The Union Cabinet has approved the New Income Tax Bill, which aims to replace the 1961 Act by simplifying direct tax legislation. This proposed bill, featuring clearer language and concise sentences, is expected to reduce legal disputes and will be reviewed during the Budget session.