New Income Tax Bill Promises a S.I.M.P.L.E. System: Here's What It Means

New Delhi: The government introduced the Income-Tax Bill, 2025, in the Lok Sabha on Thursday, aiming to overhaul the tax system with a more streamlined and transparent approach. Built on the S.I.M.P.L.E. principles, the bill seeks to make taxation easier for individuals and businesses alike.  

The S.I.M.P.L.E. framework stands for: 

- S – Streamlined structure and language  

- I – Integrated and concise  

- M– Practical and transparent  

- P – Progressive and fair  

- L– Learn and adapt  

- E – Efficient tax reforms