New Income Tax Bill 2025 PDF: Here's Quick Access To Official Link, Top Highlights For You

The Government believes that the Income Tax Bill, 2025, will significantly improve the ease of doing business in India by making tax compliance simpler and more efficient.

The Government adopted a consultative approach for the New Income Tax Bill, engaging with taxpayers, industry bodies, businesses, and tax professionals.

Source : ABPLIVE AI

New Income Tax Bill: The much-anticipated Income Tax Bill, 2025, was introduced in Parliament today, marking a major effort to streamline the language and structure of the existing Income-tax Act, 1961. The new Bill is designed to enhance clarity without making significant policy changes.

New Income Tax Bill PDF Download LINK

For keen researchers, the Income Tax Bill, 2025, is available for the public on the official sansad.in website.

Here's how you can view it:

1. Click here to visit sansad.in.
2. From the list, look for Bill #24, titled "The Income-tax Bill, 2025". For reference the Ministry will be Finance and Date of Introduction will be 13 Feb 2025.
3. Now, all you need to do is click on down arrow at the right end of the list. You will be able to see the full Bill immediately.

Key Principles Behind New Income Tax Bill

The revision of the tax legislation was guided by three fundamental principles:

• Simplification of language and structure to make the law more comprehensible.
• No major policy alterations, ensuring continuity and stability for taxpayers.
• No tax rate modifications, maintaining predictability in the tax regime.

To achieve these objectives, the Government employed a structured approach:

• Eliminating complex legal terminology to improve readability.
• Removing redundant and repetitive provisions for better organisation.
• Rearranging sections logically to facilitate easier navigation.

Stakeholder Consultations, Global Best Practices

The Government adopted a consultative approach, engaging with taxpayers, industry bodies, businesses, and tax professionals.

A total of 20,976 online suggestions were received, with relevant inputs incorporated where feasible. Additionally, tax frameworks from Australia and the UK were analyzed to adopt international best practices.

Major Reductions & Additions

The revision has significantly reduced the volume of the tax law, making it more streamlined. The notable reductions include:

• Words reduced from 512,535 to 259,676 (a decrease of 252,859 words).
• Chapters cut down from 47 to 23 (a reduction of 24 chapters).
• Sections streamlined from 819 to 536 (283 sections removed).

Meanwhile, to improve clarity, the Bill incorporates:

• More tables (increased from 18 to 57, an addition of 39 tables).
• More formulae (rising from 6 to 46, an increase of 40 formulae).

Enhancing Readability, Usability

The restructuring introduces several qualitative improvements:

• Simplified language, making tax laws easier to understand.
• Consolidation of past amendments to reduce fragmentation.
• Elimination of obsolete provisions for better clarity.
• Greater use of tables and formulae to present information concisely.
• Retention of core tax principles while enhancing user-friendliness.

The Government believes that the Income Tax Bill, 2025, will significantly improve the ease of doing business in India by making tax compliance simpler and more efficient.