Finance Ministry Issues Corrigendum To Income Tax Bill On Advance Tax Interest
Under current rules, taxpayers with an annual tax liability of Rs 10,000 or more are required to pay advance tax in four instalments — on June 15, September 15, December 15, and March 15.
Aug 13, 2025, 08:10 AM IST
Refunds, Dividends, NIL TDS: New Version Of Income Tax Bill Packs A Punch – Find Out What’s New
The new version includes most of the 285 suggestions made by a special committee that reviewed the earlier draft and submitted its report on July 21.
Aug 08, 2025, 20:15 PM IST
Will Income Tax Bill 2025 Alter LTCG Tax Rates For Certain Taxpayers? IT Department Responds
The statement makes it clear that the new legislation is focused on making the law easier to understand and streamlining the existing provisions, without introducing any changes in the current tax structure.
Jul 30, 2025, 11:43 AM IST
Income Tax Bill 2025: Will There Be Tax Rates Changes Under New Income Tax Bill? Here's What IT Department Said.....
The Income Tax Department clarified that the new Income Tax Bill, 2025 only aims to simplify the tax law’s language and remove outdated sections, without changing any tax rates or exemptions. This statement was made to counter media rumors about changes to Long Term Capital Gains (LTCG) tax and equity investment benefits. The bill, introduced in February 2025, intends to replace the old Income Tax Act from 1961 with a modern, clearer, and more technology-friendly law. It has undergone detailed review by a Lok Sabha committee and marks the first full rewrite of India’s tax code in decades.
Jul 29, 2025, 20:56 PM IST
New Income Tax Rules Coming Soon: Lok Sabha Select Committee Adopts I-T Bill 2025; To Be Tabled In Monsoon Session Of Parliament
This parliamentary committee, chaired by BJP leader Baijayant Panda, has made a total of 285 recommendations in the draft law.
Jul 16, 2025, 18:55 PM IST
New Tax Regime Vs Old Tax Regime -- Is Old Regime Still Beneficial For Those Earning Above Rs 12.75 Lakh Yearly? Expert Explains
Here’s a table showing a comparison of old vs new regime with the income level and deductions. If you have deductions more than Rs 7,75,000, then you can file return under old regime, explains Cleartax.
Feb 14, 2025, 10:05 AM IST