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Searched Tag: lok sabha passes income tax bill

The old Income Tax Act, 1961, which had undergone over 4,000 amendments in all these decades, was considered too long (containing over five lakh words) and too complex

I-T (No 2) Bill, 2025: What’s in it for the taxpayers?

August 12, 2025, 07:59 PM - 5 min read

To come into force from April 1, 2026, the Income Tax (No 2) Bill carries simpler language, clarifies deductions and empowers I-T officials to forcibly break into personal emails and social media accounts of assessees during search operations

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