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India withdraws and revises its 2025 Income Tax Bill to simplify laws and address taxpayer concerns.
The Indian government has withdrawn the Income Tax Bill, 2025, and plans to reintroduce a revised version on August 11, incorporating changes recommended by a Select Committee.
This aims to replace the existing Income-Tax Act of 1961, simplifying tax laws and easing compliance for taxpayers.
The revised bill will address issues like tax refunds for late returns and exemptions for anonymous donations to religious trusts, while maintaining the original goal of updating the tax system.
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La India retira y revisa su proyecto de ley de impuesto sobre la renta de 2025 para simplificar las leyes y abordar las preocupaciones de los contribuyentes.