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Some Important Things about the New Income Tax Law in India

The new legislation, often referred to as the Direct Tax Code, is expected to be tabled in the lower house of the Parliament (Lok Sabha) on Monday.

It aims at overhauling the existing tax structure, making it more streamlined and transparent.

The bill is likely to be referred to the Standing Committee for further discussion and refinement of its provisions.

The bill is likely not to introduce any new taxes and focus might be on simplifying tax laws, removing ambiguities, and ensuring ease of compliance for taxpayers.

Amendments are expected to be introduced to the existing law, with a focus on reducing litigation. One of the provisions could include a reduction in penalties for certain offences, making the tax framework less punitive and more taxpayer-friendly.

A crucial aspect of the new bill will be the simplification of legal language, ensuring that even ordinary taxpayers can easily understand tax provisions and their implications.

What are your views about the same!

10 months ago (edited) | [YT] | 1

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1 year ago | [YT] | 0

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Excited to do a Live Guidance Session for UPSC CAPF Preparation with Navneet Sir, Deputy Commandant, 2006 Batch at youtube.com/@KnowledgeMediaMD
November 23, 2024; 11 AM - 12 PM
Registration Free. Watch to gain priceless guidance.

1 year ago | [YT] | 1

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Google has launched its most capable AI Model, Gemini Ultra powered Gemini Advanced. Bard, rebranded as Gemini and lot more! Watch Now!

1 year ago | [YT] | 0

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Google Bard is Now GEMINI ! From now, gemini.google.com will have Gemini (run on Gemini Pro) and Gemini Advanced (run on Gemini Ultra). Gemini Apps Privacy Hub has been updated. Extensions are still same. Stay Tuned for more!

1 year ago | [YT] | 0

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Audit and accounts going live!

5 years ago | [YT] | 0

Knowledge Media

With the visit of Honble President of Portugal, New Delhi - Lisbon ties have strengthened further. PIB has reported that 14 agreements and understandings have been exchanged between India and Portugal in the fields of maritime heritage, maritime transport and port development, migration and mobility, start-ups, Intellectual Property Rights, aerospace, nano-biotechnology, audio visual co-production, yoga, diplomatic training, scientific research and public-policy. India is looking forward to be an Associate Observer of the Community of Portuguese Language Countries, so that we can amplify our developmental partnerships in Africa and elsewhere. Furthermore first India-EU Summit was initiated under the Portuguese Presidency.

5 years ago | [YT] | 2

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Cabinet approves MoU signed between India and Iceland regarding sustainable fisheries development.

Salient features of the MoU are:

Creation of facilities for exchange of scientists and technical experts and their proper placement, especially in areas of estimating Total Allowable Catches in off shore and deep sea areas;

Provision of training to fisheries professionals from key fisheries institutions in the various management aspects on areas of modern fisheries management and fish processing

Exchange of scientific literature research findings and other information.

Exchange of experts / expertise to study the prospects of fishing. Processing and marketing of products from high seas fisheries for entrepreneurship development.

5 years ago | [YT] | 1

Knowledge Media

CSIR - NET 2019 result likely to be declared tomorrow. National Eligibility Test NET) for Council of Scientific and Industrial Research (CSIR) was held on December 15, 2019. It is expected to be declared tomorrow on January 15 at csirnet.nta.nic.in.


NDTV Coverage - www.ndtv.com/jobs/nta-csir-net-result-know-how-to-…Business Standard Coverage - www.business-standard.com/article/education/csir-n…

5 years ago | [YT] | 1