Revamping I-T Act: Sitharaman to introduce revised bill half the length of current code for greater simplicity

Finance Minister Nirmala Sitharaman will introduce a revised income tax bill in Parliament that aims to simplify the six-decade-old Income Tax Act of 1961. The new bill will be more concise, clear, and easy to understand, enhancing tax certainty and reducing litigation. This move is a step towards improving the ease of doing business in India.