New Delhi, August 11 (H.S.) – The Lok Sabha on Monday passed the revised New Income Tax Bill, 2025 and the Taxation Laws (Amendment) Bill, 2025, marking a significant step toward replacing the existing Income Tax Act, 1961. Finance Minister Nirmala Sitharaman presented the revised version of the bill, which was approved immediately. The bill … Read more
ICMAI Submits Memorandum, Advocates Recognition of Cost Accountants Udaipur: Member of Parliament Dr. Mannalal Rawat has formally requested Union Finance Minister Nirmala Sitharaman to include Cost Accountants under the definition of an Accountant in Section 515(3)(b) of the Income Tax Bill, 2025. The demand was raised by the Institute of Cost Accountants of India (ICMAI), … Read more
In a major relief for income tax payers, the Income Tax Department has introduced a new online tool designed to help individuals understand and calculate their tax liabilities under the proposed Income Tax Bill. This user-friendly tool aims to bridge the gap between old tax provisions and the newly proposed amendments, ensuring that taxpayers can … Read more