Advantage Old Tax Regime: Draft income tax rules keep the old system relevant; what taxpayers should note
Released by the Income Tax Department for public consultation, the draft rules lay down the operational framework for the New Income Tax Act, 2025, which will replace the six-decade-old Income-tax Act, 1961. A key highlight is simplification: the number of rules has been cut to 333 from 511, while forms have been reduced to 190 from 399.
Released by the Income Tax Department for public consultation, the draft rules lay down the operational framework for the New Income Tax Act, 2025, which will replace the six-decade-old Income-tax Act, 1961. A key highlight is simplification: the number of rules has been cut to 333 from 511, while forms have been reduced to 190 from 399.
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