New Income Tax Bill does not entail too many changes in tax planning

It will, however, make income tax laws easier to comprehend and adhere to for the lay taxpayer

The original Income Tax Bill, 2025, introduced in February 2025, was withdrawn on August 8, 2025, after concerns were raised over certain provisions. A revised version, incorporating the recommendations of a Parliamentary Select Committee, was reintroduced in the Lok Sabha on August 11, 2025, and passed on the same date. The Rajya Sabha cleared the Bill on August 12. The Bill now awaits Presidential assent. This legislation is slated to come into force from April 1, 2026.

 

Easier to comprehend tax laws

 

The hallmark of the new I-T Bill is simplification. “The new Income Tax Bill, 2025, is concise, lucid,