Thu Feb 13 12:50:22 UTC 2025: ## New Income Tax Bill Unveiled in India: Simpler System Promised
**New Delhi, [Date of Publication]** – Finance Minister Nirmala Sitharaman today introduced a new, streamlined Income Tax Bill in the Lok Sabha, fulfilling a promise made during her Budget 2025 speech on February 1st. The bill aims to drastically simplify the current, 64-year-old Income Tax Act, 1961, which spans over 800 pages and is widely considered complex. The new legislation is expected to significantly ease the tax burden for individuals and businesses. Further details regarding the specifics of the bill are awaited.
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