New Delhi, Feb. 7 -- The Income Tax department on Saturday sought public feedback on a set of draft rules under the Income Tax Act, 2025 aimed at making the filing of taxes simpler.
The new tax law comes into from 1 April, replacing the earlier legislation from more than six decades ago, the Income Tax Act, 1961.
The draft rules slash procedures by a third while a set of 'smart forms' shrink the earlier number of forms by more than half.
The income tax department said in a note that framing of rules followed the same principle it had adopted while redrafting the law-simplification of the language.
Earlier, the income tax rules contained 511 rules and 399 forms. "As a result of the changes proposed in new rules and forms, including rem...
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