Finance Minister Nirmala Sitharaman

BJP, Congress differ over tax audit roles in Income Tax Bill; FM assures review by select committee

by
BJP, Congress differ over tax audit roles in Income Tax Bill; FM assures review by select committee - ETCFO

In a key meeting with Finance Minister Nirmala Sitharaman this week, Chartered Accountant (CA) Nitin Bansal, the State President of the Bharatiya Janata Party (BJP) CA Cell in Haryana, strongly urged the government to maintain the exclusive role of Chartered Accountants in conducting tax audits under the proposed Income Tax Bill, 2025. After the meeting, … Read more

New Income Tax Bill expected soon: Here’s what taxpayers can expect

by
PM Modi greets members of Indian community in Paris.

The government is set to introduce a new Income Tax Bill in Parliament to replace the existing Income Tax Act of 1961. This was announced by Finance Minister Nirmala Sitharaman during the presentation of the Union Budget 2025-26. The new bill aims to make direct tax laws simpler, reduce litigation, and remove ambiguities in the … Read more