Income Tax Department on Tuesday issued clarification regarding the Income Tax Bill 2025, stating that the bill only aims to simplify language and removal of redundant & obsolete provisions.
The department said that there will no change in any rates of taxes as mentioned in news articles publishes on some media platforms.
"There are news articles circulating on various media platforms that the new Income Tax Bill, 2025 proposes to change tax rates on LTCG for certain categories of taxpayers. It is clarified that the Income Tax Bill, 2025 aims at language simplification and removal of redundant/obsolete provisions. 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," the Income Tax Department said in its post.
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