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Income Tax Bill

Digital Inspection Power Expanded for Benami Transactions: The Newly Passed Income Tax Bill, 2025 Strengthens E-Governance

Advika Dwivedi

A New Era of Financial Transparency When Rajesh Kumar, a mid-level government employee earning ₹50,000 monthly, was found to own properties worth...

[BREAKING] New Income Tax Bill receives President’s Assent, Act will officially come into force from...

Understanding the New ‘Tax Year’ in India’s Income Tax Bill 2025

Lok Sabha Passed Income Tax Bill Yesterday: Is New Income Tax Act in Force? Know Here

Updated Income Tax Bill tabled at Lok Sabha: No Changes to "Accountant" Definition [Read Bill]

Updated Income Tax Bill likely to be Tabled at Lok Sabha Today

The government on Friday withdrew the Income Tax Bill, 2025 from the Lok Sabha, announcing plans to present an updated draft on August 11. The revised version is expected to incorporate most ...

All India CMA Association expresses Disappointment over narrowing Definition of “Accountant” in New Income Tax Act

The All India Cost & Management Accountants Association (AICMAA) has publicly decried the Lok Sabha Select Committee’s decision to restrict the definition of “Accountant” under the proposed...

ICSI Vows to Continue Fight for Recognition of Company Secretaries in Accountant Definition under New Income Tax Bill

The Institute of Company Secretaries of India (ICSI) has announced that it will continue to push for the inclusion of Company Secretaries (CS) in the definition of "Accountant" under the proposed...

It Took 60,000 Man Hours to Draft the New Income Tax Bill: FM Nirmala Sitharaman

Speaking at the celebrations of the 166th Income Tax Day in New Delhi, Union Finance Minister Nirmala Sitharaman praised the Income Tax Department for its transformative reforms in recent years and...

Select Committee Flags Gaps in Income Tax Bill 2025, Issues 32 Critical Recommendations [Read Report]

A group of Members of Parliament called the Select Committee of the Lok Sabha has studied the new Income Tax Bill 2025 and shared a long and detailed report. The Committee has pointed out several...

Income Tax Bill Select Committee Ends Debate: Chartered Accountants Solely Eligible for Tax Audits

The Select Committee appointed by the Government of India to review the new Income Tax Bill has made a clear and final statement: only Chartered Accountants (CAs) are eligible to conduct tax audits...

Observations/Recommendations from Income Tax Bill Lok Sabha Committee Out [Read Press Release]

The Select Committee of the Lok Sabha, chaired by Shri Baijayant Panda, is set to officially present its detailed report on the Income Tax Bill, to be tabled today at Lok Sabha. The...