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New Income Tax Bill 2025: Read full text of proposed new I-T ActThe new 622-page Income Tax Bill 2025 and aims to replace the 60-year-old Income Tax Act of 1961 and once passed will be called the Income Tax Act, 2025. It is expected to take effect in April 2026.
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New Income Tax Bill to have 622 pages, almost half of the existing I-T Act; Likely to be tabled in Parliament on ThursdayA major change is that the number of pages has been decreased substantially to 622, which is almost half of the current voluminous Act. When the Income Tax Act, 1961, was brought in, it had 880 pages.
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