Direct Tax Code 2025

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CBDT forms committee to review I-T Act, 'sunset' clauses to be eliminated | Economy & Policy News - Business Standard

The proposed changes aim to simplify the tax system by ensuring that the new code is written in clear and accessible language. Sitharaman assured during her address at the 165th Income Tax Day celebrations.

Basically an act which she can understand. Also, good luck to us.
 
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Taxing the Economically Weaker Sections ( <8LPA) and then claiming to help them.
The bill widens income tax slabs for individuals. Income between Rs 2 to Rs 5 lakh will be taxed at 10%, between Rs 5 and Rs 10 lakh at 20%, and over Rs 10 lakh at 30%.
Loot the poor and reward the rich.
The wealth tax exemption limit is increased from Rs 15 lakh to Rs 1 crore.

Yes, we are all fools to believe this after you reduce the tax exempt income from 2.5L to 2.0L. As if the inflation was not enough, now they are increasing the tax burden.
Removes several tax breaks and deductions currently allowed for companies but retains most deductions available to individuals.
 
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