Jammu Tawi, Feb. 10 -- The new income-tax bill will replace the existing six-decade old Income-tax Act. The bill aims to simplify the language and implementation of the income tax legislation for taxpayers.

Nirmala Sitharaman, income tax bill, new income tax bill, lok sabha income tax bill, Union Cabinet income tax bill, Indian express business, business news, current affairs

The new income-tax bill has been cleared in the Cabinet on Friday and will be introduced in Lok Sabha in the coming week, after which it will be referred to a parliamentary committee, Union Finance Minister Nirmala Sitharaman said Saturday.

"Yesterday (Friday) the cabinet cleared the new income tax bill proposal. I hope to have it introduced in the Lok Sabha in t...