New Income-Tax Bill Unlikely in Budget 2025 Session

The much-anticipated New Income Tax Bill, which has been in the works for some time, is unlikely to be introduced in the upcoming Budget 2025 session. The government is focusing on finalizing the existing tax policies and regulations, with the new bill potentially deferred to the subsequent financial year. The delay is attributed to the need for additional consultations with stakeholders and further analysis of the economic impact. The current government aims to simplify tax procedures, but with the ongoing global economic challenges, a major overhaul of the tax structure might not occur as expected in the 2025 Budget.