Efficient tax system: A clear income-tax law will help all stakeholders

Although the government has been working on improving the experience of taxpayers, such as with the introduction of the Faceless Assessment Scheme, the new Bill aims to take the process forward

In a rapidly developing economy like India, the state must adapt quickly, enabling economic agents to focus on economic activities. One of the areas of engagement of individuals and businesses with the state is in the context of taxation. The government, with increasing demands on the Budget, is often looking to maximise revenue. However, for long-run stability in revenue generation, taxpayers must not face excessive difficulty in paying their fair share. The Income Tax Bill, 2025 — introduced by Union Finance Minister Nirmala Sitharaman in Parliament on Thursday — is aimed at achieving this objective. Although the government has been