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“Let me assure you (in the income tax bill) there will be no extra tax on the taxpayers,” he said in a post-budget interaction at the PHD Chambers of Commerce and Industry.
He said the bill will incorporate all tax-related changes announced in the budget, including income tax rates, slabs and tax deducted at source (TDS) provisions.
“We are also not changing policy in a big way. We do not want to create any unstable situation,” Pandey said.
Finance minister Nirmala Sitharaman announced in her budget speech that a new income tax bill will be introduced soon which will be simpler to understand and will reduce litigation. The new bill will replace the six-decade-old Income Tax Act.
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https://economictimes.indiatimes.com/news/economy/policy/income-tax-bill-wont-raise-tax-or-compliance-load-finance-secretary-tuhin-kanta-pandey/articleshow/117991636.cms