Union Cabinet Approves New Income Tax Bill: A Game Changer for India’s Tax System

In a landmark move, the Union Cabinet has approved a new Income Tax Bill aimed at simplifying and modernizing India’s tax system. The bill, which is set to replace the Income Tax Act, 1961, is expected to significantly reduce legal complexities, enhance compliance, and introduce a more transparent and taxpayer-friendly system. The changes will take effect from the financial […]