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FM Nirmala Sitharaman Announced A Review Of Income Tax Act, What Does It Mean?

FM Nirmala Sitharaman Announced A Review Of Income Tax Act, What Does It Mean?

Business Today
Business Today
  • New Delhi ,
  • Jul 25, 2024,
  • Updated Jul 25, 2024, 8:04 PM IST

 

Nearly 70 minutes into her Budget 2024-25 speech, Finance Minister Nirmala Sitharaman made a big announcement. “I am now announcing a comprehensive review of the Income-tax Act, 1961. The purpose is to make the Act concise, lucid, easy to read and understand”, she said, adding that the review is proposed to be completed in 6 months. The announcement was eclipsed by other news, political and economic. Business Today TV Managing Editor Siddharth Zarabi spoke to CBDT Chairman Ravi Agarwal to find what the plans are.

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