Thursday, 20 February 2025
Wednesday, 19 February 2025
My exchange 0ver Whats App with Mr H K Aggarwal
I received the following WhatsApp message from Mr H K Aggarwal:
"Next Tentative date in LIC PENSIONERS CASES is 3rd Week of August, 2025. ----------------------------- EIGHT YEARS GONE - 25 Adjournments - TAREEKH PE TAREEKH BY SUPREME COURT. WHY & What can be the reasons??.
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Since AIRIEF Patron Sh. SS Saxena JI has been closely monitoring and was instrumental in filing fresh WRIT in 2016 in Delhi HC ( after SC JUDGEMENT DATED 31.03.2016, who only referred Rule 3A for adjudication to Delhi HC as SC wanted to settle the issue by August, 2016 ), and after a fractured order by Delhi HC , filed SLP in SC in 2017 as the then PRESIDENT of AIRIEF, he is requested to kindly throw some light on the reasons "why no hearing by Supreme Court in eight years on SLP-( now CA), and what further strategy is being proposed or prepared on resolving the burning issues of REVISION/UPDATION OF PENSION and DR anomaly affecting pre 8/97 retirees, besides increase in pension on reaching age of 80, 85, 90, 100... etc .
Members expect AIRIEF to be more proactive and consider taking out of court solid steps also , to get all legitimate demands met without further delays. H K Aggarwal Octogenarian+88. Mohali, Chandigarh."
I replied to him as follows:
"Till 2005 , the only point of grievance for pre -August 1997 retirees was DR anomaly and lack of 100% neutralisation. There was no serious demand for upgradation of pension and retirees started feeling the pinch of non-upgradation from 1/8/2002 onwards and today 7 generations of retirees are suffering the pain of non -upgradation of pension at various degrees.Fortunately the Board Resolution dt 24/11/2001 decided to recommend revision of pension for pre- August 1997 retirees from 1/8/1997, but Central Government didn't approve the recommendation. If the logic of the Board resolution is applied for post August 1997 retirees also, the pension revision will be taken care of to some extent for all generations of pensioners and to future retirees among pension optees as well even though the quantum of increase will be much less than stage to stage fitting.Of course pre-August 1997 retirees got some relief from DHC judgment dated 27/4/2017 although the revised DR was still short of 100% neutralisation .So now our focus in Supreme Court needs to be to fight for all generations of pensioners to get revised pension with every wage revision without highlighting pre-August 1997 anomaly . Of course we need to highlight the fact that the Board Resolution dated 24/11/2001 envisaged revision of pension w e f 1/8/1997 and the same logic applies to subsequent generations of retirees & family pensioners .
Increase in pension for pensioners aged 80+ years cannot be isolated from upgradation.It has to happen by implementing Rule 56 of LICEP Rules 1995 .
Ultimately everything boils down to applying Rule 56, avoiding discrimination by Rule 55B and without losing sight of the spirit of the Board Resolution."
Since AIRIEF Patron Sh. SS Saxena JI has been closely monitoring and was instrumental in filing fresh WRIT in 2016 in Delhi HC ( after SC JUDGEMENT DATED 31.03.2016, who only referred Rule 3A for adjudication to Delhi HC as SC wanted to settle the issue by August, 2016 ), and after a fractured order by Delhi HC , filed SLP in SC in 2017 as the then PRESIDENT of AIRIEF, he is requested to kindly throw some light on the reasons "why no hearing by Supreme Court in eight years on SLP-( now CA), and what further strategy is being proposed or prepared on resolving the burning issues of REVISION/UPDATION OF PENSION and DR anomaly affecting pre 8/97 retirees, besides increase in pension on reaching age of 80, 85, 90, 100... etc .
Members expect AIRIEF to be more proactive and consider taking out of court solid steps also , to get all legitimate demands met without further delays. H K Aggarwal Octogenarian+88. Mohali, Chandigarh."
I replied to him as follows:
"Till 2005 , the only point of grievance for pre -August 1997 retirees was DR anomaly and lack of 100% neutralisation. There was no serious demand for upgradation of pension and retirees started feeling the pinch of non-upgradation from 1/8/2002 onwards and today 7 generations of retirees are suffering the pain of non -upgradation of pension at various degrees.Fortunately the Board Resolution dt 24/11/2001 decided to recommend revision of pension for pre- August 1997 retirees from 1/8/1997, but Central Government didn't approve the recommendation. If the logic of the Board resolution is applied for post August 1997 retirees also, the pension revision will be taken care of to some extent for all generations of pensioners and to future retirees among pension optees as well even though the quantum of increase will be much less than stage to stage fitting.Of course pre-August 1997 retirees got some relief from DHC judgment dated 27/4/2017 although the revised DR was still short of 100% neutralisation .So now our focus in Supreme Court needs to be to fight for all generations of pensioners to get revised pension with every wage revision without highlighting pre-August 1997 anomaly . Of course we need to highlight the fact that the Board Resolution dated 24/11/2001 envisaged revision of pension w e f 1/8/1997 and the same logic applies to subsequent generations of retirees & family pensioners .
Increase in pension for pensioners aged 80+ years cannot be isolated from upgradation.It has to happen by implementing Rule 56 of LICEP Rules 1995 .
Ultimately everything boils down to applying Rule 56, avoiding discrimination by Rule 55B and without losing sight of the spirit of the Board Resolution."
I am sharing this in the blogs so that we have a holistic perspective on pension revision.
C H Mahadevan
PENSION ANOMALY CHART AS ON 28.02.2025
Please find the chart attached showing the pension disparities after the increase of 66 slabs of DR from 1/2/2025.
C H Mahadevan
Click below:-
DA/DR from Jan 2025 @ 55% Confirmed – 2 प्रतिशत की वृद्धि के साथ जनवरी, 2025 से DA/DR 55 प्रतिशत निश्चित – CPI-IW for Dec, 2024 released
DA/DR from Jan 2025 @ 55% Confirmed – 2 प्रतिशत की वृद्धि के साथ जनवरी, 2025 से DA/DR 55 प्रतिशत निश्चित – CPI-IW for Dec, 2024 released
The All-India CPI-IW for December 2024 decreased by 0.8 points and stood at 143.7 (one hundred forty-three point seven), according to the press release issued by the Labour Bureau. With this release, the DA/DR from January 2025 has been confirmed. This month's CPI-IW indicates a 2% increase in DA/DR for Central Government Employees and Pensioners, effective January 2025, bringing it to 55.98% under the 7th CPC DA/DR. The DA/DR rate is calculated by taking the absolute value of the DA rate, leaving out the decimal value. All speculations regarding future DA/DR have been resolved with this announcement. Consequently, the 55% DA/DR from January 2025 is now confirmed and is expected to be approved by the Union Cabinet next month, i.e., March 2025.
दिसंबर 2024 के लिए ऑल-इंडिया CPI-IW में 0.8 अंक की कमी आई है और यह श्रम ब्यूरो द्वारा जारी प्रेस विज्ञप्ति के अनुसार 143.7 (एक सौ तैंतालीस दशमलव सात) पर रहा है। इस विज्ञप्ति के साथ, जनवरी 2025 से DA/DR की पुष्टि हो गई है। इस महीने का CPI-IW केंद्र सरकार के कर्मचारियों और पेंशनर्स के लिए जनवरी 2025 से DA/DR में 2% की वृद्धि दर्शाता है, जिससे 7वें वेतन आयोग का DA/DR 55.98% हो जाएगा। DA/DR दर की गणना DA दर के निरपेक्ष मान (absolute value) को लेकर की जाती है, जिसमें दशमलव मान (decimal value) को छोड़ दिया जाता है। भविष्य में DA/DR को लेकर सभी अपेक्षाएं इस विज्ञप्ति के साथ समाप्त हो गई हैं। इस प्रकार, जनवरी 2025 से 55% DA/DR अब निश्चित हो गया है और संभवतः अगले महीने, यानी मार्च 2025 में केंद्रीय मंत्रिमंडल द्वारा इसे मंजूरी दी जाएगी।
The DA/DR from Jan, 2025 table is as follows:-
Dearness Allowance /Dearness Relief from January, 2025 Issue of All-India CPI-IW for December, 2024 | |||||||||
| Increase/ Decrease Index | Month | Base Year 2016 = 100 | Base Year 2001 = 100 | Total of 12 Months | Twelve monthly Average | % increase over 115.76 for 6CPC DA | % increase over 261.42 for 7CPC DA | 6CPC DA announced or will be announced | 7CPC DA announced or will be announced |
| DA/DR from Jul, 2024 | 246% | 53% | |||||||
| 1.3 | Jul,24 | 142.7 | 411 | 4820 | 401.67 | 246.98% | 53.65% | ||
| -0.1 | Aug,24 | 142.6 | 411 | 4830 | 402.50 | 247.70% | 53.97% | ||
| 0.7 | Sep,24 | 143.3 | 413 | 4847 | 403.92 | 248.93% | 54.51% | ||
| 1.2 | Oct,24 | 144.5 | 416 | 4864 | 405.33 | 250.15% | 55.05% | ||
| 0 | Nov,24 | 144.5 | 416 | 4879 | 406.58 | 251.23% | 55.53% | ||
| -0.8 | Dec,24 | 143.7 | 414 | 4893 | 407.75 | 252.24% | 55.98% | ||
| Confirm DA/DR from Jan, 2025 | 252% | 55% | |||||||
Previous: Expected DA/DR from Jan, 2025 @55% or @56%– All-India CPI-IW for the month of November, 2024 issued
Fw: Tax Payer Services: Updates for the period 01st February to 15th February 2025
----- Forwarded message -----From: "Aaykar Setu" <DONOTREPLY@incometaxindia.gov.in>To: "rksahni278@yahoo.co.in" <rksahni278@yahoo.co.in>Cc:Sent: Wed, 19 Feb 2025 at 9:58 amSubject: Tax Payer Services: Updates for the period 01st February to 15th February 2025DIT::Mailer
[ Vol. 8 ] Part 22
Wednesday, February 19, 2025INCOME-TAX BILL, 2025
Income-tax Bill, 2025 - 13th February, 2025 New Income-tax Bill 2025 Navigator - 13th February, 2025 Utility to check section of Income-tax Act, 1961 (as amended by Finance (No. 2) Act, 2024) vis-a-vis corresponding Clause of Income-tax Bill, 2025 - 13th February, 2025 General FAQs on the Broad scope of New Income-tax Bill - 13th February, 2025 नये आयकर विधेयक के व्यापक दायरे पर सामान्य प्रश्नोत्तर - Hindi Version - 13th February, 2025 FAQs on the New Income Tax Bill - 13th February, 2025 आयकर विधेयक पर अक्सर पूछे जाने वाले प्रश्न - Hindi Version - 13th February, 2025 PRESS RELEASE
Executive Summary on the Comprehensive Simplification of the Income-tax Act, 1961 - 13th February, 2025 CIRCULAR/NOTIFICATIONS
Notification No. 16/2025 [F. No. 300195/31/2024-ITA-I] / SO 731(E) - 12th February, 2025 Notification No. 15/2025 [F. No. 203/27/2024/ITA-II] / SO 673(E) - 10th February, 2025 Notification No. 14/2025 [F. No. 370142/2/2025-TPL] / G.S.R. 125(E) : Income-tax (Fourth Amendment) Rules, 2025 - 07th February, 2025 Notification No. 13/2025 [F. No.370142/9/2024-TPL] / G.S.R. 121(E) : Income-tax (Third Amendment) Rules, 2025 - 07th February, 2025 MISCELLANEOUS COMMUNICATION
Establishment- Income Tax Department, North West Region, Chandigarh, Filling up of vacancy in the Cadre of Stenographer Grade- I, on deputation basis - 12th February, 2025 Direct Tax Collections for F.Y. 2024-25 as on 10.02.2025 - 11th February, 2025 Official website of Central Board of Direct Taxes (CBDT),
Department of Revenue, Ministry of Finance, Government of India
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*Today AIBRF Delegation , met Sri Sameer Shukla, Jt Secretary, Banking Division, MoF,
*Today AIBRF Delegation Consisting Sri SM Despande, Prez, Sri SC Jain, Gen Secy, Sri Mitra Vashu, Jt Gen Secy, Sri RK Agarwal, DGS, Sri Suresh Sharma, Orgn Secy, met Sri Sameer Shukla, Jt Secretary, Banking Division, MoF, New Delhi in his Office and discussed issues of Bank Retirees including Pension Updation in a very furitful discussion and cordial atmosphere. Detailed circular follows.*
*SC Jain*
*Gen Secy*
*AIBRF*
DA INCREASE FROM FEB. 2025 FOR BANKS EMPLOYEES/OFFICERS IN SERVICE & DR FOR PENSIONERS
DA INCREASE FROM FEB. 2025
FOR EMPLOYEES/OFFICERS IN SERVICE
MIN INCREASE | MAX INCREASE | |
|---|---|---|
SUBSTAFF | 350 | 925 |
CLERICAL | 430 | 1700 |
SCALE I | 850 | 2000 |
SCALE II | 1150 | 2250 |
SCALE III | 1520 | 2325 |
SCALE IV | 1850 | 2525 |
SCALE V | 2175 | 2725 |
SCALE VI VII | 2550 | 3400 |
FOR PENSIONERS : 66 SLABS INCREASE | ||
|---|---|---|
D.A. Rates for Pensioners (%) | ||
5TH BPS - Retired prior to 01-11-1992 - 2220 Slabs over 600 points | ||
Upto 1250 | 1251-2000 | Abv 2000 |
1487.40% Plus Rs.800 | 1487.40% Plus Rs.450 | 1487.40% |
6TH BPS After 01-11-1992 upto 31-03-1998 - 2083 Slabs over 1148 points | ||
Upto 2400 | 2401-3850 | Abv 3850 |
729.05% Plus Rs.800 | 729.05% Plus Rs.450 | 729.05% |
7TH BPS After 01-04-1998 upto 31-10-2002 - 1949 Slabs over 1684 points | ||
Upto 3550 | 3551-5650 | Abv 5650 |
467.76% Plus Rs.800 | 467.76% Plus Rs.450 | 467.76% |
8TH BPS - Retired on or after 01-11-2002 - 1798 Slabs over 2288 points | ||
For the entire Basic Pension Amount 323.64% | ||
9TH BPS - Retired on or after 01-11-2007 - 1661 Slabs over 2836 points | ||
For the entire Basic Pension Amount 249.15% | ||
10TH BPS - Retired on or after 01-11-2012 - 1260 Slabs over 4440 points | ||
For the entire Basic Pension Amount 126.00% | ||
11TH BPS - Retired on or after 01-11-2017 - 782 Slabs over 6352 points | ||
For the entire Basic Pension Amount 54.74% | ||
12TH BPS Retired on or after 01-11-2022 - 1.37 Points over 123.03 points | ||
For the entire Basic Pension Amount 21.20% | ||
CHV AIBEA
HISTORICAL D R SLABS FOR EACH GROUP OF PENSIONERS
HISTORICAL D R SLABS FOR EACH GROUP OF PENSIONERS
The LIC Employees' Pension Rules, 1995 was notified in the Gazette of India on 28th June, 1995. But the same was made effective from 1st November, 1993, The Pension was linked to AICPI(IW) with Base year 1960=100. We have traced the history of Dearness Relief payable to the LIC Pensioners of all Groups of Pensioners.
Click below:-
https://drive.google.com/file/d/1cdcg4tvLxZ57s9Y3QJUhw_32ATpC6pFk/view?usp=drivesdk
C T JOSHI
Tuesday, 18 February 2025
CPI-IW for December, 2024 is 143.7.
CPI-IW for December, 2024 is 143.7 (9446.64)
66 slabs for LIC pensioners and 23 slabs for employees wef 01.02.2025
BREAKING | 'Dirty Mind, Perverted' : Supreme Court Berates YouTuber Ranveer Allahabadia, Stays His Arrest In FIRs For Obscenity
BREAKING | 'Dirty Mind, Perverted' : Supreme Court Berates YouTuber Ranveer Allahabadia, Stays His Arrest In FIRs For Obscenity
Click below:-
https://www.livelaw.in/top-stories/dirty-mind-perverted-supreme-court-berates-youtuber-ranveer-allahabadia-stays-his-arrest-in-firs-for-obscenity-284228
.
Monday, 17 February 2025
Digital copy of Yogakshema February, 2025
महोदय/महोदया,
फरवरी 2025 माह की योगक्षेमा प्रत्रिका की प्रति प्रेषित कर रहे है।कृपया प्राप्ति स्वीकार करें।
योगक्षेमा डेस्क
केंद्रीय कार्यालय मुम्बई
Yogakshema February, 2025
Click below:-
Sunday, 16 February 2025
IRDAI in new development mode – in CEO’s Meet 14-16 Feb 2025
GREETINGS. If appropriate, blog may have
regards, M Arunachalam
IRDAI in new development mode – in CEO's Meet 14-16 Feb 2025
IRDAI unveiled the plan for its ambitious 'Bima Trinity' plan. Bima Trinity comprises of Bima Sugam, Bima Vistaar and Bima Vahaak. Bima Sugam is an open marketplace for the sale, service and claims of all insurance policies across insurance companies. Bima Vistaar is the first ever composite product covering death, personal accident, property, and surgical hospitalisation. Bima Vahaak is a localised women-centric insurance field sales force.
IRDAI said it had deliberations with the top brass of the insurance industry and the Bima Sugam team on key issues for the phased launch of Bima Trinity. The regulator added that Bima Vistaar is progressing steadily towards implementation, with key milestones achieved across all three pillars. Discussions at Bima Manthan were about taking a comprehensive update on the phased rollout strategy of Bima Vistaar. As per the regulator, discussions were also about the operating model and implementation strategy of Bima Vistaar.
Further, IRDAI said the portal for Bima Vahak, the localised women-centric insurance field sales force, is near completion and gearing up for a soft launch for Bima Vahak onboarding starting in April 2025.
IRDAI said the implementation of Bima Sugam is going as planned. The 'Insurance Electronic Marketplace' is to be established as a robust Digital Public Infrastructure enabling seamless integration with various services to facilitate the purchase, sale, servicing of insurance policies, settlement of insurance claims and grievance redressal.
IRDAI added that Bima Sugam India Federation (BSIF), the entity set up to build and operate this platform has also completed all its incorporation & other foundational actions and is now ready to be capitalised by the Industry participants.
Saturday, 15 February 2025
Letter to Director General, Labour Bureau, Chandigarh
ALL INDIA BANK EMPLOYEES' ASSOCIATION Central Office: "PRABHAT NIVAS" Regn. No.2037 Singapore Plaza, 164, Linghi Chetty Street, Chennai-600001 Phone: 2535 1522 Fax: 2535 8853 Web: www.aibea.in M-98400 89920 e mail ~ chv.aibea@gmail.com & aibeahq@gmail.com
AIBEA/GS/2025/027 15-2-2025 Shri Alok Chandra,Director General, Labour Bureau, Ministry of Labour and Employment, Govt. of India, Shram Bureau Bhawan, Sector 38 (West), CHANDIGARH-160036
Sir,
You are aware that the Dearness Allowance for the employees, workers and pensioners, etc. is being paid based on the variation in Consumer Price Index published by your Office. All these years, these Index figures were being published regularly on time as per the calendar schedule of your Bureau, i.e. the Index of a month was being published by the end of the next month. For example, the Index of January by the end of February. However, for the past nearly one year, the publication of the monthly Consumer Price Index is regularly irregular and not published on time. This is creating difficulties for the employers and managements to reflect the DA increase in the wages paid. To cite the current example, the Index for the month of December, 2024 which otherwise would have been published on 31st January, 2025 is yet to be published by your Bureau. You will appreciate that Bank managements have to incorporate the last quarterly Index figures in order to prepare the salary slips/pension slip for payment of the salary and pension payable for the month of February, 2025. In the absence of Index figures for the month of December, 2024, managements are unable to work out the salary slips/pension slips. You will further appreciate that there are more than 15 lacs of employees/ officers and pensioners for whom the salary and pension amount have to be processed by the Banks which process normally starts by the middle of the month. We shall thank you to expedite the publication of the Index figures for the month of December, 2024. Thanking you, Yours sincerely, C.H.VENKATACHALAM GENERAL SECRETARY Copy to: Secretary, DFS, New Delhi/ CLC, New Delhi
*𝙐𝙍𝙂𝙀𝙉𝙏 𝘾𝙊𝙉𝘾𝙀𝙍𝙉𝙎 𝙍𝙀𝙂𝘼𝙍𝘿𝙄𝙉𝙂 𝘼𝙄𝘾𝙋𝙄𝙉 𝘿𝙖𝙩𝙖 𝙋𝙐𝘽𝙇𝙄𝘾𝘼𝙏𝙄𝙊𝙉 *(2016=100)*
💢 *QUOTE* 💢
*𝘼𝙇𝙇 𝙄𝙉𝘿𝙄𝘼 𝙍𝘽𝙄 𝙊𝙁𝙁𝙄𝘾𝙀𝙍𝙎' 𝘼𝙎𝙎𝙊𝘾𝙄𝘼𝙏𝙄𝙊𝙉*
*𝐓𝐑𝐀𝐍𝐒𝐏𝐀𝐑𝐄𝐍𝐂𝐘 𝐀𝐍𝐃 𝐓𝐈𝐌𝐄𝐋𝐈𝐍𝐄𝐒𝐒:*
*𝙐𝙍𝙂𝙀𝙉𝙏 𝘾𝙊𝙉𝘾𝙀𝙍𝙉𝙎 𝙍𝙀𝙂𝘼𝙍𝘿𝙄𝙉𝙂 𝘼𝙄𝘾𝙋𝙄𝙉 𝘿𝙖𝙩𝙖 𝙋𝙐𝘽𝙇𝙄𝘾𝘼𝙏𝙄𝙊𝙉 *(2016=100)*
*𝐅𝐄𝐁𝐑𝐔𝐀𝐑𝐘, 𝟏𝟏, 𝟐𝟎𝟐𝟓*
*To :all concerned quarters*
*All-India Consumer Price Index for Industrial Workers (AICPIN) data is an important economic measure that affects the cost of living adjustments for millions of industrial workers, bank employees/ pensioners , and others whose salaries depend on CPI changes.*
*For many years, this data was published on a regular schedule.*
*𝐇𝐨𝐰𝐞𝐯𝐞𝐫, 𝐬𝐢𝐧𝐜𝐞 𝐭𝐡𝐞 𝐌𝐢𝐧𝐢𝐬𝐭𝐫𝐲 𝐨𝐟 𝐋𝐚𝐛𝐨𝐮𝐫 𝐢𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐞𝐝 𝐭𝐡𝐞 𝐧𝐞𝐰 𝟐𝟎𝟏𝟔=𝟏𝟎𝟎 𝐢𝐧𝐝𝐞𝐱, 𝐭𝐡𝐞𝐫𝐞 𝐡𝐚𝐯𝐞 𝐛𝐞𝐞𝐧 𝐬𝐢𝐠𝐧𝐢𝐟𝐢𝐜𝐚𝐧𝐭 𝐮𝐧𝐞𝐱𝐩𝐥𝐚𝐢𝐧𝐞𝐝 𝐝𝐞𝐥𝐚𝐲𝐬 𝐢𝐧 𝐫𝐞𝐥𝐞𝐚𝐬𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐝𝐚𝐭𝐚.*
*𝐀 𝐏𝐀𝐓𝐓𝐄𝐑𝐍 𝐎𝐅 𝐃𝐄𝐋𝐀𝐘*
The delay in the release of the All-India Consumer Price Index for Industrial Workers (CPI-IW) for December 2024
The delay in the release of the All-India Consumer Price Index for Industrial Workers (CPI-IW) for December 2024 is causing significant concern among government employees and pensioners. This crucial data, used to calculate Dearness Allowance (DA) and Dearness Relief (DR), was due on January 31, 2025, according to the Labour Bureau’s official advance release calendar. This unexplained delay is leaving millions in a state of uncertainty, impacting their financial planning and livelihoods.
The CPI-IW serves as a key inflation indicator, directly influencing wage and pension adjustments. For pensioners and salaried individuals, especially those on fixed incomes, timely DA/DR revisions are essential to cope with rising prices.
The Bharat Pensioner Samaj has taken up the issue and sent a formal letter to the Honorable Minister of Labour & Employment, demanding the immediate release of the December 2024 CPI-IW data. The letter highlights the severe impact of the delay, emphasizing the financial hardship faced by pensioners who rely on timely DA/DR adjustments. The Bharat Pensioner Samaj’s communication also underscores the potential damage to the credibility of the Labour Bureau and the government’s commitment to transparency when pre-scheduled releases are delayed without explanation.
The Bharat Pensioner Samaj is not only demanding the immediate release of the December CPI-IW but also insisting on preventive measures to avoid similar delays in the future. Furthermore, they are calling for an official statement explaining the reason for the current delay and outlining the steps being taken to ensure timely data release going forward. The continued silence on this matter only serves to heighten anxieties and reinforces the need for swift and decisive action from the concerned authorities.
Friday, 14 February 2025
Income-tax Bill, 2025, tabled in Parliament
13 FEB 2025 3:54PM by PIB Delhi
Income-tax Bill, 2025, tabled in Parliament today towards achieving comprehensive simplification of the Income-tax Act, 1961
The Income-tax Bill, 2025 was tabled in Parliament today, marking a significant step toward simplifying the language and structure of the Income-tax Act, 1961.
The simplification exercise was guided by three core principles:
- Textual and structural simplification for improved clarity and coherence.
- No major tax policy changes to ensure continuity and certainty.
- No modifications of tax rates, preserving predictability for taxpayers.
A three-pronged approach was adopted:
- Eliminating intricate language to enhance readability.
- Removing redundant and repetitive provisions for better navigation.
- Reorganizing sections logically to facilitate ease of reference.
Consultative and Research-Based Approach
The Government ensured widespread stakeholder engagement, consulting taxpayers, businesses, industry associations, and professional bodies. Out of 20,976 online suggestions received, relevant suggestions were examined and incorporated, where feasible. Consultations were held with industry experts and tax professionals and simplification models from Australia and the UK were studied for best practices.
Outcomes of the Simplification Exercise Quantitative
Impact
The review has led to a substantial reduction in the Act's volume, making it more streamlined and navigable. Key reductions are summarized below:
Item | Existing Income-tax Act, 1961 | Proposed in the Income-tax Bill, 2025 | Change (Reduction/Addition) |
Words | 512,535 | 259,676 | Reduction: 252,859 words |
Chapters | 47 | 23 | Reduction: 24 chapters |
Sections | 819 | 536 | Reduction: 283 sections |
Tables | 18 | 57 | Addition: 39 tables |
Formulae | 6 | 46 | Addition: 40 formulae |
Qualitative Improvements
- Simplified language, making the law more accessible.
- Consolidation of amendments, reducing fragmentation.
- Removal of obsolete and redundant provisions for greater clarity.
- Structural rationalization through tables and formulae for improved readability.
- Preservation of existing taxation principles, ensuring continuity while enhancing usability.
The Income-tax Bill, 2025 reflects the Government's commitment to enhancing ease of doing business by providing a tax framework that is simple and clear.
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NB/KMN
An Overview of New Income Tax Bill, 2025
An Overview of New Income Tax Bill, 2025
Read more at: https://taxguru.in/income-tax/overview-new-income-tax-bill-2025.html
Read more at: https://taxguru.in/income-tax/overview-new-income-tax-bill-2025.html
Courtesy ::Taxguru.in
New Income Tax Bill 2025 – Key Takeaways
New Income Tax Bill 2025 – Key Takeaways
Read more at: https://taxguru.in/income-tax/income-tax-bill-2025-key-takeaways.html
Courtesy :Taxguru.in
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