Income tax | Income tax bill | Parliament budget session| New Income Tax Act 2025
वित्त मंत्री निर्मला सीतारमण (Nirmala Sitharaman) ने लोकसभा (Lok Sabha) में नया इनकम टैक्स बिल 2025 (New Income Tax Bill) पेश कर दिया है. इससे पहले, 7 फरवरी 2025 को केंद्रीय मंत्रिमंडल ने इस बिल को मंजूरी दी थी. यह नया विधेयक लगभग 60 साल पुराने इनकम टैक्स एक्ट की जगह लेगा और टैक्स सिस्टम को सरल, पारदर्शी और अधिक प्रभावी बनाएगा.
#incometax #budgetsession #parliament #newincometaxbill #newtaxbill #newincometaxact #newtaxact #newtaxslab #budget
~PR.147~ED.148~GR.124~HT.96~
वित्त मंत्री निर्मला सीतारमण (Nirmala Sitharaman) ने लोकसभा (Lok Sabha) में नया इनकम टैक्स बिल 2025 (New Income Tax Bill) पेश कर दिया है. इससे पहले, 7 फरवरी 2025 को केंद्रीय मंत्रिमंडल ने इस बिल को मंजूरी दी थी. यह नया विधेयक लगभग 60 साल पुराने इनकम टैक्स एक्ट की जगह लेगा और टैक्स सिस्टम को सरल, पारदर्शी और अधिक प्रभावी बनाएगा.
#incometax #budgetsession #parliament #newincometaxbill #newtaxbill #newincometaxact #newtaxact #newtaxslab #budget
~PR.147~ED.148~GR.124~HT.96~
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NewsTranscript
00:00Finance Minister Nirmala Sitharaman has presented a new Income Tax Bill to the Parliament on Thursday.
00:07The new Income Tax Bill was approved by the Cabinet on February 7 last week.
00:12Today, after being presented to the Parliament, the new Income Tax Bill will be sent to the Constituent Assembly for further discussion.
00:19The Constituent Assembly will give its recommendations on this Bill, after which it will be sent to the Cabinet once again.
00:25After the recommendations of the Constituent Assembly, it will again need the approval of the Cabinet.
00:30And after getting approval, this Bill will be presented to the Parliament again.
00:34So why has this Income Tax Bill been presented? Since when will it be implemented?
00:38What changes have taken place in it? Why was it needed?
00:41Let's go into all the details in the video.
00:43So the new Income Tax Bill 2025 is an important part of a major effort to improve the tax system in India.
00:49The purpose of the new Income Tax Bill is to make it easier, organized and transparent by improving the existing tax system.
00:57Currently, the Income Tax Act 1961 rules and laws are in force in India.
01:03After the new Income Tax Bill is passed, this Income Tax Act 2025 will be implemented and the Income Tax Act 1961 will be replaced.
01:12Under the new rules, there will be a change in the streams of income tax.
01:15Along with this, the assessment year has also been terminated in the new bill and the tax year has been prioritized.
01:21Because earlier, taxpayers were confused between the financial year and the assessment year.
01:25That's why only one has been given, tax year.
01:28That is, the tax year will start from April 1 and will continue until March 31 next year.
01:33And if a business or work is started, its tax year will start from that day and will end at the end of that financial year.
01:40In addition to this, the legal language has also been improved.
01:43In the new bill, legal words have been made easier and shorter, which will make it easier to understand.
01:48In the proposed bill, easy language has been included for the convenience of the taxpayer.
01:52And under the efforts to make tax rules and its sections easier, the number of streams has also been reduced and the difficult streams have been removed.
02:01There is no mention of any new tax in the new bill.
02:04There are 536 sections in the new bill with 622 pages, while there were 823 pages in the 64-year-old Income Tax Act.
02:12Chapters and sections have been increased in this.
02:15The number of chapters in this bill is 23, but the sections have increased from 298 to 536.
02:21Schedules have also been increased in this.
02:23The number of schedules has increased from 14 to 16.
02:26If the new Income Tax Bill 2025 is passed once, then the Income Tax Act 2025 will be formed.
02:32After this, the existing Income Tax will be terminated in 1961.
02:36And if it is to be implemented, then it will be implemented from April 1, 2026.
02:43In addition to this, there are some other important things that we should know.
02:46Such as there are strict rules on virtual digital assets.
02:50Virtual digital assets such as cryptocurrency will now be considered under undisclosed income.
02:55In addition to this, measures have been taken to prevent tax theft.
02:58Such as there are strict regulations on digital transactions and crypto assets.
03:01To increase transparency and to prevent tax theft.
03:05Taxpayers Charter.
03:07The Taxpayer Charter has also been included in the new bill, which will protect the rights of taxpayers.
03:12And will make the tax administration transparent.
03:15Now let's understand why the need for a new tax bill came.
03:18The existing Income Tax Act was technically very difficult due to being many decades old.
03:24And it was also burdensome in terms of circulation.
03:27There were changes in it from time to time.
03:29But it was not completely suitable for today's digital and modern economy.
03:34Therefore, the government has introduced the new tax bill 2025 to make the tax system easy.
03:37To give way to taxpayers and to make the compliance process easier.
03:45In this, the slabs have been simplified.
03:48You know that in the budget of 2025, there was an announcement of new tax slabs.
03:52For example, there is no tax from 0 to 4 lakhs.
03:554 to 8, 5%.
03:578 to 12, 10%.
03:5912 to 16, 15%.
04:0016 to 20, 20%.
04:02And 20 to 24, 25%.
04:04Apart from this, if the income is more than 24 lakhs, then 30% tax is charged.
04:09So before this, the no tax limit was 7 lakhs.
04:12Which has now increased to 12 lakhs.
04:14And the middle class will get relief from this change.
04:17Because their taxable income will be taxed less than before.
04:20Apart from this, there were some problems in the old law.
04:22See, taxpayers had a lot of administrative problems in paying tax returns and compliance.
04:27It was a little difficult, the rules were a little difficult.
04:30Apart from this, the solution to the tax disputes was very slow and very complicated.
04:34Which will be very easy now.
04:36There were no appropriate measures to properly coordinate the digital economy.
04:40Which have been brought in this.
04:42Apart from this, if we talk about the new tax law, then how will the common man benefit?
04:46First, it was announced in the budget that the income up to 12 lakhs has been tax-free.
04:50Which will give relief to the middle class.
04:52Apart from this, tax filing will be easier.
04:54Paperwork will also be reduced in this.
04:56And online tax return filing will be increased.
04:59With the new system, the solution to the tax disputes will also be faster.
05:03And because of this bill, the digital payment and business will also be increased.
05:07In the new income tax bill, now for any person, K.
05:10For the Hindu divided family, K.
05:12And for the community, G.
05:14In this way, instead of sub-section, the tax calculation has been done according to the tax lab.
05:19Apart from this, on the graduation of the army, para force and other employees like the defense sector.
05:24Tax has been exempted.
05:26Even on the contribution made under the Agnipat scheme, no tax will be charged in the new tax bill.
05:31There is still such a rule.
05:33Apart from this, tax exemption on home loan, medical, PF, higher education per loan, electric vehicle and insurance has been maintained.
05:41In short, this new tax bill is very easy to understand.
05:46You can also go to the website and see.
05:48And if you want to see this bill, want to read it.
05:51It has also been updated on the Lok Sabha's official website.
05:54And there you can get access to the bill.
05:56You can also download the PDF from there.
05:59So how did you like the new income tax bill?
06:01Comment and tell.
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