Income- tax Bill, 2025. Quick Access. Tax Information and Services. On 21st August 2024, Finance Minister Nirmala Sitharaman during the 165th year of Income Tax in India introduced the forthcoming Direct Tax Code (DTC). Its goal is to replace the existing Income Tax Act, 1961, with a more straightforward and transparent system. Learn the key differences between the Direct Tax Code (DTC) 2025 and the Income Tax Act 1961. Learn how DTC aims to simplify and modernize India’s tax system for better compliance and transparency. Tax structure under direct tax code 2025 The Direct Tax Code (DTC) 2025 proposes a revised income tax slab system, aiming to simplify taxation for individuals and corporate entities. Individual income tax is streamlined, with fewer tax brackets and competitive rates designed to enhance compliance and reduce evasion.
