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Feb 17, 2025
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View: Apart from simplifying matters, the new Income-Tax Bill is a big step for the system to rewire itself
India's much-awaited Income-Tax Bill 2025, replacing the country's 6-decades old incumbent framework, has been welcomed by a vast majority of professionals, businesses and citizens. That's not surprising for a society that has come such a long way, from even just a decade ago, with respect to the quality of its business environment, its accelerated digital transformation and explosion in its entrepreneurship. This tax bill seems perfectly timed with its promise to:
Simplify and ease conduct of business
Bring clarity to policy and reduce scope for tax disputes
Institutionalise a reliable digital knowledge base of our tax environment to streamline tax administration
In many ways, India's recent transformation has been both relentless and holistic.
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