Income-tax Bill, 2025: Key Changes and Simplifications

The new Income-tax Bill, 2025 replaces the 1961 Act with simplified language, reduced provisions from 5.12 lakh to 2.6 lakh words, and introduces 39 new tables and 40 formulas for better clarity and ease of compliance. Key Improvements: • Simplified language for better understanding • Reduced word count by nearly 50% • New tabular and formula-based presentation • Clearer definitions and provisions • Enhanced readability for taxpayers and professionals • Maintained all existing tax rates and slabs This bill aims to make tax laws more accessible while preserving the core taxation framework.