Try GOLD - Free
New tax law to simplify rules, cut litigation
Hindustan Times Bengaluru
|February 04, 2025
Finance secretary Tuhin Kanta Pandey—the top bureaucrat in the finance ministry—was tasked by finance minister (FM) Nirmala Sitharaman with working out the nuts and bolts of the Union Budget's most popular announcement, revamping personal income-tax, apart from finalising the draft of the new income-tax bill which is expected in the current session of the Parliament.
NEW DELHI: In a conversation with Rajeev Jayaswal, he spoke about the letter and spirit of the new tax legislation. Edited excerpts:
The finance minister announced to bring a new income tax legislation. What was the process and aims of drafting this new bill?
The Budget announced that a new bill will be brought that will be much simpler. It will be close to half of the current Income-Tax Act. This is in line with the FM's July 23, 2024 announcement that simplification of the Income-tax Act is to be completed within six months. Then we formed 26 subcommittees and review committees.
This story is from the February 04, 2025 edition of Hindustan Times Bengaluru.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Hindustan Times Bengaluru
Hindustan Times Bengaluru
Shami bags 3, J&K need 131 more to take lead
Mohammed Shami on Monday bowled a couple of incisive spells to get three wickets but Jammu and Kashmir did well enough to reach 198/5 against Bengal on the second day of the Ranji Trophy semifinal.
2 mins
February 17, 2026
Hindustan Times Bengaluru
Baisoya, Jaglan lead the way at PGTI league auction
Inform Honey Baisoya, fresh from his win at the DP World Players Championship at the Qutab Golf Course earlier this month, was the flavour of the auction, drawing the highest bid for the upcoming 72 The League - PGTI's franchise-based competition - here on Monday.
2 mins
February 17, 2026
Hindustan Times Bengaluru
Tactical masterclass: How India stayed a step ahead of Pakistan
T20 cricket often seems to demand extravagance but India did the simple things right on Sunday
3 mins
February 17, 2026
Hindustan Times Bengaluru
Coach Hesson faults execution after loss to India
A 6l-run defeat clearly showed all that went wrong for Pakistan in their T20 World Cup Group A game against India in Colombo on Sunday.
2 mins
February 17, 2026
Hindustan Times Bengaluru
SC QUESTIONS GOVT OVER WANGCHUK SPEECHES’ VERACITY
The Supreme Court on Monday questioned the Centre ‘over the veracity of the translated version of speeches by jailed climate activist Sonam Wangchuk and ordered the original pen drive to be produced by Thursday.
1 min
February 17, 2026
Hindustan Times Bengaluru
Tactical masterclass: How India stayed a step ahead of Pakistan
T20 cricket often seems to demand extravagance but India did the simple things right on Sunday
3 mins
February 17, 2026
Hindustan Times Bengaluru
Pro League capitulation raises concerns for India
Four matches, four losses and 19 goals conceded with only five scored.
3 mins
February 17, 2026
Hindustan Times Bengaluru
TCS, AMD deepen AI play to take on Nvidia in India
Chipmaker AMD is deepening its India push through an expanded partnership with India’s largest IT services company Tata Consultancy Services (TCS), deploying its latest rack-scale AI data centre technology in the country as they prepare for competition from Nvidia Corporation in one of the world’s fastest-growing AI markets.
2 mins
February 17, 2026
Hindustan Times Bengaluru
‘AI tools will support, not replace, clinical expertise’
Artificial intelligence (AI) tools could begin handling parts of routine hospital documentation this year, according to Roy Jakobs, chief executive officer of Philips.
2 mins
February 17, 2026
Hindustan Times Bengaluru
COPS: ACCUSED DID OCCULT RITUALS AFTER KILLING INDORE STUDENT
The classmate of a 24-year-old female MBA student, arrested in Indore for her murder, allegedly mistreated the body after the killing and also performed occult rituals while on the run, a police official said on Monday.
1 min
February 17, 2026
Listen
Translate
Change font size