Mumbai, July 30 -- The Income Tax Department has clarified that the proposed Income Tax Bill 2025 does not seek to change any tax rates, including those on Long Term Capital Gains (LTCG), amid reports suggesting otherwise. The clarification was issued through an official statement on social media, responding to speculation in several media outlets regarding potential changes to the taxation structure.

According to the department, the new bill is focused solely on simplifying legal language and removing redundant or obsolete provisions from the current law. It emphasised that the draft legislation does not contain any proposals for altering tax rates applicable to any category of taxpayers.

"Any ambiguity in this respect shall be duly ad...