Lok Sabha Passes Income Tax (No 2) Bill: Aiming to Make Tax Laws ‘S.I.M.P.L.E’

Lok Sabha Passes Income Tax (No 2) Bill: Aiming to Make Tax Laws ‘S.I.M.P.L.E’

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The Lok Sabha on Monday approved the Income Tax (No 2) Bill, 2025, marking a significant step as this would replace the complex, six-decade-old Income Tax Act of 1961. It will make it a more streamlined and comprehensible framework. The bill, which Finance Minister Nirmala Sitharaman has been titled as a “S.I.M.P.L.E” law, passed without…

ok Sabha Passes New Income Tax Bill With Expanded Powers for Officials

ok Sabha Passes New Income Tax Bill With Expanded Powers for Officials

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New Delhi — The Lok Sabha has passed the updated Income Tax (No. 2) Bill, 2025, which shortens and simplifies the country’s tax law but also gives income tax officials stronger powers during search operations. One of the most talked-about changes is that officials will now be able to access personal emails, social media accounts,…