New Income Tax Bill Passed| FM Explains 1961 Act Amendments, Exemptions, Standard Deduction

Following the passage of the New Income Tax Bill, 2025, Finance Minister Nirmala Sitharaman outlined key amendments to the existing Income Tax Act, 1961 in the Rajya Sabha. The changes include: tax exemptions on dividends, interest, and long-term capital gains for sovereign wealth and pension funds investing in infrastructure between 2020–2030, abatement of all block period assessments in search cases to boost Ease of Doing Business, clarification of the Rs. 75,000 standard deduction for salaried individuals under the new regime, and parity of the Unified Pension Scheme (UPS) with NPS. These amendments are also incorporated in the New Income Tax Bill.

COURTESY: SANSAD TV