New Delhi: The Income Tax Department on Tuesday issued a formal clarification regarding the Income Tax Bill 2025, putting to rest speculation that the new bill proposes changes to Long Term Capital Gains (LTCG) tax rates or exemptions.
In an official statement posted on X (formerly Twitter), the department emphasized that the bill is primarily intended to simplify the language of the tax law and eliminate outdated or redundant provisions from the existing tax code.
Income Tax Bill 2025 Clarification: Tax Rates to Remain Unchanged
“There are media reports suggesting that the Income Tax Bill 2025 proposes changes to LTCG tax rates for certain taxpayers. It is clarified that the bill is focused only on simplifying language and removing obsolete clauses,” the department wrote.
The statement further added, “It does not seek to change any rates of taxes. Any ambiguity in this respect shall be duly addressed during the passing of the Bill.”
This Income Tax Bill 2025 clarification is aimed at countering widespread misinformation circulating on news channels and social media, particularly rumors that tax benefits on equity investments might be scrapped.
New Tax Bill Seeks to Modernize, Not Restructure
Introduced during the Budget Session in February 2025, the new Income Tax Bill is designed to replace the Income Tax Act of 1961. After introduction, the bill was referred to a select committee of the Lok Sabha, which recently submitted its report.
This marks the first-ever complete rewrite of India’s tax legislation, focusing on modernizing the law, improving clarity, and making it more compatible with digital systems and technology-based compliance.
Despite the buzz, the core message remains clear: the Income Tax Bill 2025 does not intend to modify existing LTCG rates or disrupt the current tax structure.
Get Latest News Live on MTIMES along with Breaking News and Top Headlines, Political News and around The World.
You May Like
Trending Searches Today |
“India Struck Pakistan Hard and Smart”: Tharoor Praises Operation Sindoor in the US
PM Modi Meets Maldives VP, Speaker to Boost Ties
Asia Cup 2025: India to Clash with Pakistan on September 14 in UAE
AI for India 2.0 Empowers Rural Youth
NEET-PG 2025 to Be Held on August 3: Supreme Court Allows NBE Extension, Denies Further Delay
- Water-Resistant Durability: This water-resistant zipper bag offers superior barrier protection and a durable design, ens…
- Secure Top Zipper Closure: Featuring an easy Zip Lock closure, the top zipper keeps your contents secure and protected.
- On-the-Go Storage: This bag is compact and lightweight, fitting seamlessly into suitcases, backpacks, or purses, making …
- One 16-foot-long high-speed multi-shielded USB 2.0 A-Male to B-Male cable
- Connects mice, keyboards, and speed-critical devices, such as external hard drives, printers, and cameras to your comput…
- Constructed with corrosion-resistant, gold-plated connectors for optimal signal
- Two 3.3-feet (1.0 meter) USB 2.0 A-Male to A-Female high-speed extension cables
- Extends your USB connection to your computer by 3.3 feet; for use with printers, cameras, mice, keyboards and other USB …
- Constructed with corrosion-resistant, gold-plated connectors for optimal signal clarity and shielding to minimize interf…