New Income-Tax Act to make life simple for taxpayers: CBDT chairman Ravi Agrawal

Quick Summary:

The tax department has renewed its focus on simplification and is banking on trust.

The actual number of taxpayers would be around 3 crore.

One can say, for a crore-and-a-half taxpayers, who were in this bracket (Rs 7 lakh to Rs 12 lakh), it would be a zero-tax liability.

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Article Details

Author / Journalist: Surojit Gupta

Category: EconomyBusiness

Markets: IndiaAustralia

Topics: Direct tax revenues Taxpayer benefits New I-T Act Budget announcement Tax compliance Non-intrusive tax approach CBDT chairman Tax simplification

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-04 @ 05:43:00 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 906 words

Reading Time: 6 minutes read

Sentences: 50 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 25852298

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