India’s Income-Tax Bill, 2025: A Comprehensive Overhaul of the Direct Tax Regime

The Income-Tax Bill 2025 is a reform of significant magnitude and it is expected to replace the sixty-year-old Income-Tax Act 1961. The Bill was introduced in the Lok Sabha on 13 February 2025, and was drafted during a six-month period, with some 75,000 person-hours of tax officials input. Its features include to streamline the old language, to remove duplications, to reduce litigation, and to increase compliance with increased clarity and technology. The Bill thus introduces efficiency,...