Income Tax Account, 2025: Govt to introduce in Lok Sabha: Rediff Moneynews
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Income Tax Account, 2025: Govt to introduce in Lok Sabha: Rediff Moneynews

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The government will introduce the income tax proposal in 2025 in Lok Sabha on Thursday. The bill aims to simplify the Income Tax Act by replacing old terminologies with simpler languages.

New Delhi, February 12 (PTI) The Government has listed a bill to consolidate and
Change the Act on Income Tax for Introduction in Lok Sabha on Thursday.

According to the agenda circulated by the Lok Sabha Secretariat on Wednesday, Finance Minister Nirmala Sitharaman will introduce the income tax proposal in 2025.

The long -awaited bill will replace terminologies as an assessment and previous year with easier to understand “tax year” as part of the move to simplify the language while removing reservations and explanations.

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