Income Tax New Bill 2025: Major Tax Reforms & Compliance Guide
India’s tax system is undergoing a major transformation with the introduction of the Income tax new bill 2025. The government presented the bill in Parliament on February 13, 2025, with the aim of modernizing outdated tax laws. The income tax act 2025 is designed to streamline taxation, improve compliance, and align India’s tax structure with global standards. A review committee is currently assessing the provisions, with its final report expected before the Monsoon Session. Understanding these changes is crucial for taxpayers, businesses, and financial professionals. This article outlines key amendments, the implementation timeline, and important compliance guidelines.