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#SainikWelfareNews #IncomeTaxBill2025 #NewIncomeTaxLaw
*Revised Income Tax Bill 2025 Passed | Key Changes Explained | New Income Tax Law 2025 in India | पूरी जानकारी हिंदी में*
Welcome to Sainik Welfare News! In this video, we break down the latest updates on the **Revised Income Tax Bill 2025**—recently passed in the Lok Sabha and Rajya Sabha. Understand what’s been changed, what remains, who is impacted, and what it means for taxpayers, professionals, pensioners, and investors.
Overview: *Why the Income Tax Bill 2025 was introduced and what it replaces*
Major highlights and simplified provisions of the new law
Changes in language, structure, and number of sections
Impact on taxpayers: Are there new tax rates? What’s easier now?
Introduction of new tables and formulas for ease of calculation
Government’s objectives: transparency, simplification, and taxpayer friendliness
Applicability: When does the new law take effect?
What happens to existing tax benefits, including for NPS and UPS?
How the *new act differs from the 1961 law* and key reasons for the overhaul
Responses from Finance Minister Nirmala Sitharaman & Parliament proceedings
How public investment funds and block assessment have changed
Next steps: FAQs, information memorandum, and further clarifications from the Finance Ministry
Key Points from the Revised Income Tax Bill 2025
*Passed by Parliament* on August 12, 2025; replaces the 1961 Income Tax Act.
Comes into force from **April 1, 2026**—all changes will apply from the new financial year.
*No increase in tax rates:* The bill does not impose any new taxes; focus is on simplification and clarity.
Reduction in complexity: 819 sections to 536 sections, 47 chapters to 23.
Language simplified for easy understanding—word count reduced by nearly half.
New tables (39) and formulas (40) replace dense text, making calculations much easier.
All existing tax benefits under the *New Pension Scheme (NPS)* will now also apply to the **Unified Pension Scheme (UPS)**.
The Taxation Laws (Amendment) Bill, 2025, brings further changes, including public investment fund rules.
Finance Ministry to release FAQs and an information memorandum for public reference.
Finance Minister Nirmala Sitharaman stressed that the overhaul was not to increase taxes, but to make India’s income tax law more modern, taxpayer-friendly, and simpler to interpret. The law reduces legal jargon, removes outdated clauses, and aims to reduce litigation.
Q. What is the new Income Tax Bill 2025?
A. It’s a comprehensive replacement for the old Income Tax Act, 1961, designed for simpler, clearer taxation.
Q. Are there any new tax slabs or rates?
A. No. The focus is on making the law easier to understand and implement, not on changing tax rates.
*Q. Who is affected?*
A. All individual taxpayers, HUFs, companies, trusts, and associations—basically everyone liable under the old Income Tax Act, 1961.
*Q. When does the new law apply?*
A. From April 1, 2026. Current tax returns and assessments continue under the old law till then.
Lok Sabha and Rajya Sabha passed the bill during the 2025 Monsoon Session.
The drafting process took just six months, involving over 75,000 man-hours.
Computer systems of the Income Tax Department will be updated to handle the new regulations.
The bill also deals with special measures regarding public investment funds, block assessment, and pension schemes.
[Income Tax Bill 2025 PDF] (Please check the official Income Tax India website and government portals for authentic PDF downloads)
FAQs and info memo coming soon from the Ministry of Finance.
What is the new income tax bill in 2025?
2025 में नया आयकर बिल क्या है?
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We are committed to bringing timely, accurate information to all citizens. *JAI HIND JAI BHARAT*
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