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Jul 26, 2025
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New Income-Tax Bill 2025 simplifies law, keeps policy intact: Baijayant Panda
The new Income-Tax Bill aims to simplify the language and structure of India’s tax law without altering its core policy framework, according to Lok Sabha MP Baijayant Panda. He noted that the existing Income Tax Act, 1961—now over six decades old and amended thousands of times—had become overly complex, even for experts, leading to frequent disputes and confusion.
The new Income-Tax Bill seeks to simplify language and structure without changing existing tax policies, said Lok Sabha MP Baijayant Panda, who chaired the 31-member select committee that reviewed the draft. In an interview with Business Standard, he clarified that the proposed legislation does not override the intent of the Income Tax Act, 1961, but modernises it to reduce complexity, litigation, and confusion for taxpayers.
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