India, March 9 -- The introduction of the New Income Tax Bill, 2025, marks an ambitious and unprecedented attempt to simplify one of the most complex pieces of legislation in Indian governance. The effort undertaken by the government of India to overhaul the tax system was nothing short of Herculean. It was a meticulous and exhaustive re-evaluation of decades of tax laws - article by article, clause by clause - reflecting an unparalleled commitment to efficiency, transparency, and modernisation. This initiative sets a precedent, one that should inspire similar bold reforms in other sectors of governance and regulation.

For over 60 years, the Indian Income Tax Act accumulated amendments and additions, becoming an unwieldy document that ch...