Akshay Kumar downplays romancing Wamiqa Gabbi, 32, in Bhooth Bangla, Priyadarshan says 'actor's screen age is different'Apart from Akshay Kumar, Bhoot Bangla director Priyadarshan also addressed the age-gap, emphasising that he sees no issue with it. Mar 25, 2026
CoinDCX promoters Sumit Gupta and Neeraj Khandelwal, arrested in a ₹71.6 lakh fraud case, were granted bail by a Thane court. The duo was accused of cheating an insurance advisor with false cryptocurrency investment and franchise promises. Their defense argued mistaken identity
Jewar Airport latest update: IndiGo, Akasa Air and Air India Express confirm flight operations, expected routes, and launch timeline for Noida International Airport. The upcoming Noida International Airport in Jewar is set to emerge as a major aviation hub for North India
Energy-related infrastructure in Iran’s Isfahan province and the southwestern city of Khorramshahr has been struck, according to Iran’s semiofficial Fars news agency. The reported attacks come a day after US President Donald Trump announced a pause by extending his deadline for Iran to halt
The controversy surrounding the Satara Zilla Parishad elections has intensified into a major political confrontation, with the suspension of the district’s top police officer following allegations of high-handedness. Legislative Council Deputy Chairperson Neelam Gorhe Monday ordered the
The Indian Premier League (IPL) 2026 season is set to get underway on March 28 with defending champions Royal Challengers Begaluru facing Sunrisers Hyderabad at the M Chinnaswamy Stadium in Bengaluru. With a fresh stack of players across all 10 franchise following the mini-auction process from last
A Delhi court on Tuesday sentenced Kashmiri separatist leader Asiya Andrabi to life imprisonment, PTI reported. Andrabi, alleged to be the founder and chief of the banned all-women separatist group Dukhtaraan-e-Millat, and two of her associates had been convicted under the Unlawful Activities
Dhurandhar 2: The Revenge has sparked fresh buzz after viewers realised that the character Pinda is inspired by real-life drug dealer and militant Rinda. This detail is now being widely discussed as fans connect the film’s story with real events
Parliament on Tuesday (August 12, 2025) passed a new Income Tax Bill to replace the six-decade-old Income Tax Act, 1961, that will come into force from April 1, 2026. Piloting the Income Tax Bill, 2025 in the Rajya Sabha, Finance Minister Nirmala Sitharaman said it did not impose any new tax rate and only simplified the language, which was required for understanding the complex Income Tax laws.
Parliament passes new Income Tax Bill to replace six-decade-old law
Parliament on Tuesday (August 12, 2025) passed a new Income Tax Bill to replace the six-decade-old Income Tax Act, 1961, that will come into force from April 1, 2026.
Piloting the Income Tax Bill, 2025 in the Rajya Sabha, Finance Minister Nirmala Sitharaman said it did not impose any new tax rate and only simplified the language, which was required for understanding the complex Income Tax laws.
The new Bill removes redundant provisions and archaic language and reduces the number of Sections from 819 in the Income Tax Act of 1961 to 536 and the number of chapters from 47 to 23.
The number of words had been reduced from 5.12 lakh to 2.6 lakh in the new Income Tax Bill, and for the first time, it introduces 39 new tables and 40 new formulas, replacing the dense text of the 1961 law to enhance clarity.
"These changes are not merely superficial; they reflect a new, simplified approach to tax administration. This leaner and more focused law is designed to make it easy to read, understand and implement," Ms. Sitharaman said while replying to a short debate in the absence of the Opposition in the Rajya Sabha.
Along with the Income Tax Bill, 2025, the House also returned the Taxation Laws (Amendment) Bill, 2025, to the Lok Sabha that had passed these money Bills on Monday.
"To remove confusion, I want to say that the aim of bringing in this new law is to simplify the language and lucidity, which is required for understanding," the Minister said.
Ms. Sitharaman further emphasised that Prime Minister Narendra Modi had given clear instructions — COVID or no COVID — tax burden on people should not be increased.
"We have not increased any new tax," she said.
She said the taxpayer-friendly Income Tax Act 2025, replacing the 1961 Act, was a milestone for the country's financial system.
"I am shocked that the Opposition doesn't want to participate. The Opposition had agreed in the Business Advisory Committee to debate the Bill in both the Lok Sabha and the Rajya Sabha," she said.
Most often, the Opposition says, she noted, "you don't want to discuss anything, we want to have charcha. We agreed for 16 hours of charcha in the Lok Sabha and 16 hours of charcha here (Rajya Sabha)...where are they today".
The Opposition had earlier staged a walkout from the Rajya Sabha, demanding a discussion on special intensive revision of the voter list in Bihar.
The new Income Tax Bill was drafted within a record time of six months and introduced in the Budget session in February 2025.
The drafting of the new Bill involved nearly 75,000 person-hours, with a team of dedicated officers of the Income Tax department working tirelessly.
The Minister informed the House that soon the Finance Ministry would be issuing FAQs and an information memorandum for more information on the new legislation.
She further said Ministry officials were busy formulating rules, which would be simpler like the Bill.
As the new law will come into force from April 1, 2026, the computer systems of the Income Tax department are required to be rebooted to operationalise the new legislation.
The Taxation Laws (Amendment) Bill, 2025, also passed by voice vote in the Rajya Sabha, incorporated changes in the scheme of block assessment with regard to Income Tax search cases, and would provide for certain direct tax benefits to public investment funds of Saudi Arabia.
It seeks to amend the Income Tax Act, 1961 and also the Finance Act, 2025.
The government in July announced that all tax benefits available under the New Pension Scheme (NPS) shall apply to the Unified Pension Scheme (UPS), which was implemented from April 1, 2025.
Published - August 13, 2025 12:45 am IST
parliament / Lok Sabha / Rajya Sabha
Source: The Hindu
Related Posts: Income Tax department issues draft rules for new Income Tax Act 2025 Nativity Card Bill passed by Kerala Assembly New Income-Tax Bill How The New Income Tax Bill 2025 Impact Your Finances Simplified Language In New Income Tax Bill A Significant Shift How NPS Helps Lower Income Tax In Old Vs New Tax Regime Tax Year’ Replacing ‘Assessment Year’ In New Income Tax Law From 1 April 2026 New Income Tax Draft Rules Bring Old Tax Regime Back Into Focus Slab-Wise Tax Rates If Your Income Exceeds Rs 12L In New Tax Regime Will Your Tax Slab Change Under New Income Tax Act
IndiGo warns of demand hit as Iran war drives up flight ticket pricesIndiGo's warnings come even as an escalating Iran war continues to rattle global crude oil markets and complicates flight paths. Published on: Mar 24, 2026 5:13 PM IST By HT Business Desk Share via Copy link IndiGo has warned that
1 days ago
Losing stubborn belly fat isn’t just about cutting calories, but it’s about choosing the right kind of movement. The fat stored around your abdomen, especially visceral fat, is closely linked to metabolism and overall health. The good news is that you don’t need hours in the gym
1 days ago
And so the long goodbye begins for the 'Egyptian King' - undoubtedly, one of the greatest footballers the Premier League has ever seen. Mohamed Salah has worn the Liverpool shirt 435 times across all competitions. At most, he will get the opportunity up to 15 more times between now and the end of
1 days ago
At his factory in Visakhapatnam, Sanjeev Relhan produces surgical gowns and protective gear that doctors and nurses routinely use in hospitals while handling an infectious patient or for a surgery. Usually, Relhan sells gowns to hospitals for Rs 80 a piece. In the last few days
1 days ago
Kerala Police asks X to remove posts related to ECI document with BJP sealKerala Police on Tuesday issued notices to social media users and asked platform X to remove posts related to an Election Commission of India (ECI) document that carried the seal of the BJP Published on: Mar 25
1 days ago
JICA is eager to partner with India on semiconductor and new energy initiatives. The agency plans to invest JPY 275 billion this year, a significant increase from last year's JPY 191 billion. JICA's chief representative, Takeuchi Takuro, highlighted semiconductor manufacturing and biogas as key
1 days ago
One minute, he’s catching heat for a quiet cameo in the Madrid derby. And the next, he’s at the centre of a bizarre controversy that’s got France and Spain pointing fingers — and Real Madrid sweating. Mbappe’s substitute appearance against Atletico Madrid didn’t exactly wow anyone
1 days ago
Premier League’s edge blunted as La Liga continues to dictate tempo and control in Champions League Updated on: Mar 25, 2026 6:08 AM IST By Aditya Maheshwari Share via Copy link Premier League may be the most competitive, but La Liga’s technical edge outclasses it in the UEFA Champions League
1 days ago
Once operational, will Jewar International Airport in Noida, likely to be inaugurated on March 28, be India’s largest airport? There is understandable confusion around this claim. But the short answer is — not yet. But it could be India’s largest airport in the future
1 days ago
If you cancel between 24 hours and 8 hours before the journey, 50% of your ticket fare will be cut, along with the minimum applicable charge. The Indian Railways has made some major changes to its ticket cancellation fee. From now on, if you cancel your ticket between 24 to 72 hours before the
1 days ago
Globally, tuberculosis remains the leading cause of death and according to the World Health Organization, over 10.7 million people fell ill with TB in 2024, with more than 1.25 million deaths recorded globally. Despite decades of medical advances
1 days ago
A tarot reader predicts financial growth for these 5 zodiac signs before March 2026 ends. Here’s whyMarch 2026 Horoscope: According to a tarot reader, Manisha Koushik, a few zodiac signs may experience financial progress before the month ends. Published on: Mar 25
1 days ago
From April 1, 2026, filing your income tax return (ITR) is set to undergo a significant transformation. With the new Income-tax Rules, 2026 coming into effect, the government is not just tweaking forms—it is reshaping how income, tax and deductions are reported across the system.From April 1
1 days ago
The Ministry of Civil Aviation has decided to withdraw the temporary fare caps on domestic airfares starting today (March 23). New Delhi: The Ministry of Civil Aviation has decided to withdraw the temporary fare caps on domestic airfares starting today (March 23)
1 days ago
22-year-old UK woman lands job in Bengaluru, asks if relocating to India is safeThe woman shared that she is also worried about feeling lonely in a new country if she decides to move from the UK to India. Published on: Mar 25, 2026 6:10 AM IST By Trisha Sengupta Share via Copy link A 22-year-old
1 days ago
The Lok Sabha on Tuesday passed by voice vote the 2026 Transgender Persons Protection of Rights Amendment Bill. The bill will now be moved to the Rajya Sabha. If cleared by the Upper House of Parliament, it will be sent for presidential assent. Introduced in the Lok Sabha on March 13
1 days ago
Opposition parties are carefully responding to a government proposal to speed up the Women's Reservation Act. They are not opposing it directly but are requesting an all-party meeting. This meeting is proposed to take place after the upcoming assembly elections conclude
1 days ago
Apex court issued broad directions to correct past injustices and to guarantee equal opportunities in the future. In a landmark judgment stregthening gender equality in the armed forces, the Supreme Court on Tuesday ruled that women Short Service Commission (SSC) officers are entitled to Permanent
1 days ago
HDFC Bank has appointed domestic law firms Wadia Ghandy and Trilegal, along with a leading US-based firm, to review the circumstances surrounding former chairman Atanu Chakraborty’s abrupt resignation, according to a report by The Economic Times (ET), citing people familiar with the matter
1 days ago
Singer-rapper Badshah has reportedly tied the knot with Punjabi actress and model Isha Rikhi. Recently, Isha’s mother, Poonam, took to her Instagram handle and shared a series of pictures which suggest that the two are now married. In the photos
1 days ago
Malaika Arora, in a recent interview, mentioned that she is a massive fan of two Thai dishes. She spoke about her love for green Thai curry rice and mango sticky rice and went on to share how she makes these dishes at home. Green Thai curry or Gaeng Khiao Wan is a fragrant coconut milk-based dish
1 days ago
Delays in visa appointment scheduling are affecting not only H-1B visa holders but also H-4 dependents, L-1/L-2 employees, and F-1 students. After arriving in India in December, holders with H-1B visas are now ‘stranded in their home country’
1 days ago
Thousands of Malayalees return home from the UAE, Saudi Arabia, Kuwait and other Gulf states during election seasons to exercise their franchise. Expatriate groups even arrange chartered flights for their members to travel. This year this crowd would have been bigger
1 days ago
Nandini, the dairy brand of Karnataka Milk Federation, will be the Official Dairy Partner for Royal Challengers Bengaluru in the 2026 IPL season. This partnership unites two prominent Karnataka-based brands. The collaboration aims to connect with passionate RCB fans
1 days ago
On March 19, Ras Laffan, the largest liquified natural gas terminal in the world, supplying one-fifth of the world’s super-chilled fuel, was hit by Iranian missiles and drones. The Qatari terminal suffered substantial damage in the strikes – fires were raging across the gas-to-liquids facility
1 days ago
Four European teams will secure their 2026 World Cup spots this week. Sixteen nations are vying for these final four places. Italy faces Northern Ireland in Path A. Ukraine meets Sweden in Path B. Kosovo plays Slovakia in Path C. The Republic of Ireland takes on the Czech Republic in Path D
1 days ago
Honda’s homecoming at the Japanese Grand Prix was supposed to be a celebration. Instead, it’s shaping up to be an ugly yet much-needed reality check. To state that the new regulations haven’t been kind to Honda — and Aston Martin, in turn — would be an understatement
1 days ago
