Budget 2025: Finance Minister Nirmala Sitharaman is expected to present a bill for a new direct tax law during the upcoming budget session. The focus of this proposed legislation will be on simplifying existing provisions, eliminating redundant ones, and making the language more accessible to the general public.
The objective of this modification is to simplify the legislation, ensuring it is clear and easy to understand, and drastically cutting down its volume by approximately 60%. Finance Minister Nirmala Sitharaman during her Budget speech in July 2024 had pledging a comprehensive reassessment within six months to resolve any current intricacies and conflicts.
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