Income Tax Bill 2025: Will the tax rates change in the new bill? The Income Tax Department itself has announced it..

Income Tax Bill 2025: Different kinds of talks were going on on social media and digital media for the last few days regarding the Income Tax Bill 2025. Somewhere, it was being said that the tax rates on Long Term Capital Gain (LTCG) may change, while somewhere there were speculations that the existing tax exemption on equity investments could be abolished. Amidst all this, now the Income Tax Department itself has come forward and clarified that no change has been made regarding tax rates in the Income Tax Bill 2025.

There will be no change in tax rate.

The Income Tax Department posted on X (earlier Twitter) on Tuesday and said, "There are reports in the media and social media that LTCG tax rates may change for some categories of taxpayers under the Income Tax Bill 2025. It is clarified that the purpose of the Income Tax Bill 2025 is only to simplify the language of the law and remove irrelevant or old provisions." The department further wrote, "No change in tax rates is proposed in the bill. If there is any misunderstanding or confusion, it will be clarified at the time of passing the bill." What is the Income Tax Bill 2025? Income Tax Bill 2025 has actually been brought to replace the existing Income Tax Act, 1961. This bill was introduced in the Lok Sabha in the budget session of February 2025. After this, it was sent to a select committee, which has recently submitted its report. This bill is the first time that the income tax law in India has been completely rewritten. The idea behind this is to make the tax rules easier, more modern, and technology-friendly.

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