A new “21st century” Income Tax Act is need of the hour
By Pragadish Kirubakaran in Media News on Monday, 03rd February 2025 at 4:41pmEven as the euphoria around the huge tax rebates announced during Budget 2025-26 is yet to die down across the Indian media spectrum, the Union Finance Minister has now sought all taxpayers to brace for what she claims is the next relief -- a new Income Tax Act, which is "relevant to the 21st century."
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In an exclusive interview with Diwakar and Surojit Gupta for The Times of India, a day after she presented her 8th consecutive Union Budget, Sitharaman asserted that the tax relief unveiled by her was meant to honour the honest taxpayer. She said it was not wise to keep loading the narrow tax base with taxes. “But it is also equally upon us to widen the base and keep newer people coming in,” she added.
On the proposed revamp of the I-T Act, she said, “It wi...
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