Tag: Tax reforms 2025

Clarity & Compliance: India’s New Income Tax Bill 2025—What You Must Know Before It Becomes Law

Aug 14, 2025 | Indian Economy & Taxation

The Income-Tax (No. 2) Bill, 2025, is set to replace India’s six-decade-old tax law, streamlining over 800 sections into 536, introducing a unified Tax Year, enabling faceless assessments, and retaining the ₹12 lakh exemption. Awaiting Presidential assent, the law is expected to take effect from April 1, 2026.