Srinagar, Feb. 15 -- Income Tax payers can now match the sections of the I-Tax Act, 1961, with the corresponding clauses in the simplified I-T Bill, 2025, on the tax department portal.
Also, Section to Section mapping as per Income Tax Act, 1961 and Section number as per New Income Tax Bill has been uploaded on the I-T department's website.
A simplified Income Tax Bill, 2025, was introduced in the Lok Sabha on February 13 by Finance Minister Nirmala Sitharaman. The Bill, once enacted, will replace the 64 years old Income Tax Act which has become bulky over time with its traditional style of drafting and numerous amendments.
The simplified Bill has a word count of 2.6 lakh, lower than 5.12 lakh in the I-T Act. The number of Sections is 53...