FM Nirmala Sitharaman introduces Taxation Laws (Amendment) Bill, 2025 in the Lok Sabha, seeking Changes to existing Income Tax Act and Budget 2025

Finance Minister Nirmala Sitharaman has introduced the "Taxation Laws Amendment Bill, 2025," in the Lok Sabha, seeking changes to the Income Tax Act. The bill is aimed at modernizing the tax system and simplifying the compliance process. The bill proposes several changes to the existing tax laws, which are expected to have a profound impact on taxpayers and the tax department. The move is a significant step towards a more efficient and less intrusive tax environment.