By – Preeti Sharma, Partner, Global Employer Services, Tax & Regulatory Services, BDO India
“THE INCOME-TAX (No.2) BILL, 2025 is approved in the Lok Sabha today. The biggest advantage of the new law is that a common man may easily understand it with lesser efforts as compared to the old law. The revised bill has incorporated most of the changes recommended by the Select Committee. The new regime announced in Budget 2025 will remain in the new Bill and the tax-payers still have to undergo the process of assessing the right regime to follow while filing tax return. Similarly, no changes are proposed in tax rates as introduced in Budget 2025.“