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Income Tax Dept releases FAQs on new Income Tax Bill, 2025: Check details

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
  During the course of numerous amendments to the Income tax Act, 1961, several policy decisions were incorporated as separate provisions. Read below to know more about the Income Tax Bill 2025.

The Income Tax Department has released a set of Frequently Asked Questions (FAQs) to clarify details about the new Income Tax Bill 2025. This document addresses various aspects of the new tax regime, including changes in tax slabs, deductions, and exemptions. Key points include the introduction of new tax rates, modifications to existing tax benefits, and the impact on different income groups. The FAQs aim to help taxpayers understand the implications of the new bill, how it affects their tax liabilities, and what steps they need to take to comply with the new regulations. The document also covers procedural changes, such as how to file returns under the new system, and provides guidance on transitional issues for those switching from the old to the new tax regime.

Read the Full MSN Article at:
[ https://www.msn.com/en-in/money/other/income-tax-dept-releases-faqs-on-new-income-tax-bill-2025-check-details/ar-AA1yXTaE ]