%20(3).jpg)
No proposal to change tax rates in the new Income Tax Bill, Income Tax Department made it clear
The Income Tax Department issued a clarification on the proposed Income Tax Bill 2025, saying that its purpose is to simplify the language and remove old provisions. The department also clarified that no change in tax rates is proposed in the bill. This clarification came after reports claiming changes in LTCG tax rates.
On Tuesday, the Income Tax Department issued a clarification on the proposed Income Tax Bill 2025. The department said that the purpose of the new Income Tax Bill is only to simplify the language and remove unnecessary and old provisions.
This bill does not introduce any tax rate change. This clarification by the department has occurred after reports in the media and online media posts stating that the new bill will alter the long-term capital gains (LTCG) tax rates for some taxpayers.
Some reports have said that the existing tax exemption on equity investments may be removed in the new bill. In an official post on social media platform X, the department said, "There are reports circulating on various media platforms that the new Income Tax Bill, 2025 proposes changes in tax rates on LTCG for certain categories of taxpayers."
