Question
What major change has been introduced in the new Income Tax
Bill presented in Lok Sabha?Solution
The new Income Tax Bill, presented by Finance Minister Nirmala Sitharaman, replaces 'assessment year' with 'tax year', effective April 1, 2026. The 622-page Bill aims to simplify tax compliance without changing tax rates.
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The average of the current ages of Ram and his father is 44 years. In six years, Ram's age will be half of his father's age four years ago. What is the ...
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