Wed Feb 12 21:25:06 UTC 2025: ## New Income Tax Bill Expected Today: Major Overhaul Planned

**New Delhi, February 13, 2025** – Finance Minister Nirmala Sitharaman is expected to table a new income tax bill in Parliament today, marking a significant overhaul of the existing 64-year-old Income Tax Act, 1961. The bill, announced during the Budget 2025 speech, aims to simplify the current tax code, reducing the number of sections and clauses to address long-standing complexities. This substantial reform is anticipated to bring significant changes to India’s tax system.

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