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Finance Minister Nirmala Sitharaman to introduce new income tax bill, replacing old I-T Act, after Cabinet approval.

The Finance Minister had first announced a comprehensive review of the Income-Tax Act, 1961 in the July 2024 Budget.

Finance Minister Nirmala Sitharaman on Saturday said she is likely to introduce the new income tax bill, which will replace the six-decade-old I-T Act, in the Lok Sabha in the coming week. After ...