By:- B.T Team

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New Income Tax Bill:  Sources Reveal  23 Chapters!

India's New Income Tax Bill, set to be effective from April 2026, brings a wave of reforms. Here are 15 lesser-known facts that will leave you astonished.

The bill aims to simplify legal language, making tax laws more accessible to the average citizen.

Simplification of Language

Reduction in Length

The new legislation reduces the length of the tax law by half, eliminating redundant provisions.

Focus on Single Tax Regime

Emphasis is placed on a single tax regime to streamline compliance and reduce confusion among taxpayers.

No Introduction of New Taxes

The bill does not introduce any new taxes but focuses on simplifying existing ones.

Reduction of Legal Disputes

By clarifying provisions, the bill aims to minimize legal disputes and uncertainties.

Clearer Definitions

Ambiguous terms are redefined for better clarity, reducing misinterpretations.

Streamlined Compliance

Simplified procedures are introduced to make tax compliance easier for individuals and businesses.

Elimination of Obsolete Provisions

Outdated sections have been removed to modernize the tax code.

Enhanced Transparency

The bill promotes transparency in tax administration, building trust between taxpayers and authorities.

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