Finance
Mr. BillionhairIncome Tax Dept Wants Your Brilliant Ideas for New Rules
Folks, listen up! The Income Tax department is calling all the brilliant minds to share their genius ideas on the new tax rules! The Income Tax Act of 2025 launches April 1, and they want your fantastic input. Simplification, less litigation, and cutting the red tape—it's going to be tremendous! Check it out and make your voice heard, folks! It’s gonna be yuge!
few days ago | Press Trust of India
Quick rundown
1.India's new Income Tax Act, 2025, aims to simplify tax processes.
2.CBDT invites stakeholder suggestions for the draft tax rules.
3.The new rules will reduce from 511 to 333, and forms from 399 to 190.
4.Stakeholders can submit feedback via the e-filing portal starting February 4, 2026.
5.The new tax act replaces the 1961 version, effective April 1, 2025.
