Spanning 622 pages, the new I-T Bill 2025 and aims to replace the 60-year-old Income Tax Act of 1961 and once passed will be called the Income Tax Act, 2025. It is expected to take effect in April ...

The decision to review the Income Tax Act of 1961 was initially announced by FM Sitharaman during her Budget Speech on July 23, 2024. The objective is to streamline the Income Tax Act, making it ...

The New Income Tax Bill — to be called the Income-Tax Act, 2025, once passed – is set to be presented in Parliament on February 13, and aims to replace the six-decade-old Income Tax Act of 1961.

According to sources, the intent of the move remains to make the current Income Tax Act, 1961 easy to understand and comprehend for taxpayers and any tax changes will continue to be presented in ...

The Child Tax Credit (CTC) is undergoing key revisions in 2025, with millions of American families expected to see ...

Republican Senators have introduced bills to not only kill the $7,500 tax credit for electric vehicles but also add a $1,000 tax at the purchase of new EVs. President Trump campaigned on killing ...

In this week’s episode, we discuss the GOP’s move to kill the EV tax credit, Tesla takeover/takedown, $20,000 VW EV, and more. The show is live every Friday at 4 p.m. ET on Electrek’s ...

And it proposes, and I hope every American listens to this, it proposes at least $880 billion in cuts to Medicaid and the Affordable Care Act. ... All so billionaires can get even a bigger tax cut ...

Tax software can help you file your return more quickly. Here's how to pick the best option for you. Danni Santana has spent seven years as an editor and business journalist covering industries ...

And there are many other appliances that you can save on in 2025. One way to do it is through a sales tax holiday. Some states offer these limited-time savings on energy-efficient appliances ...

A frustrating thing about working hard to earn money is knowing the IRS will tax a portion of your earnings. Federal taxable income generally includes wages, tips, royalties, commissions ...

with more than 57 tables compared to 18 in The Income-tax Act, 1961. Details that are of direct interest to taxpayers, including deductions, TDS/ TCS rates, and exemptions have been provided in ...