Cabinet approves draft of Income Tax Act 2023

Cabinet approves draft of Income Tax Act 2023

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Certain inclusions and exclusions were brought in the new income tax law, he said, adding that once the new law comes into force, the income tax authorities cannot fix income tax at will as they have to follow a mathematical model in income tax assessment. ,

He said that the government is trying to digitize the income tax system.

The cabinet also approved the draft Agency to Innovation (A2I) Act on Monday.

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