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Feb 07, 2025
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‘New income-tax bill to not have long sentences, provisos; will not put any extra tax burden: Tuhin Kanta Pandey
The new income-tax bill will not have long sentences, provisos and explanations and will mark a different way of engagement with citizens, with no aim to put any new tax burden, Finance Secretary Tuhin Kanta Pandey said on Thursday. The Bill, which is proposed to be introduced in the Parliament next week, Pandey said the recent changes in income tax rates, slabs and TDS (Tax Deducted at Source) provisions will also be reflected in it.
The new income-tax bill is likely to be discussed at the Cabinet meeting on Friday, sources said. While presenting the Union Budget for 2025-26, Union Finance Minister Nirmala Sitharaman had stated that a new income tax legislation will be introduced by the government next week in the ongoing Budget session of the Parliament.
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