For years, filing taxes felt like decoding hieroglyphics to Rhea Sharma, a Mumbai-based freelance graphic designer. “I’d spend hours Googling terms like ‘Section 80C’ or ‘TDS exemptions,’ only to panic and hire a CA last-minute,” she laughs. That headache may soon vanish. The proposed Income Tax Simplification Bill, 2024—greenlit by the Cabinet this week—promises to rewrite India’s tax rulebook in plain English, slash compliance hurdles, and (finally) let taxpayers file returns without needing a law degree.
What’s Changing?
The 132-page draft bill, reviewed by The Indian Express, axes archaic legalese for conversational language. Key reforms:
Bye-Bye, Gibberish:
Terms like “perquisites” become “work benefits,” “assessment year” turns to “tax year,” and exemptions are rebranded as “tax-saving options.”
One-Page Summary:
A simplified overview of liabilities/refunds will top every ITR form, replacing walls of fine print.
Pre-Filled Everything:
Auto-populated data on salary, investments, and capital gains—verified via PAN-linked databases—to cut manual entry errors.
Chatbot Help:
An AI assistant (think “TaxGPT”) will answer queries in Hindi, Tamil, and eight regional languages.
Why Experts Are Cheering
“This isn’t just about words—it’s about trust,” says former CBDT chairperson Anita Kapur. She notes that 68% of India’s 8.4 crore taxpayers currently rely on agents, per a 2023 Deloitte survey. “Simplifying language democratizes tax literacy. A street vendor in Jaipur should grasp their obligations as easily as a CFO in Bengaluru.”
What’s Next?
The bill heads to Parliament next month, with cross-party support likely. If passed, phase one (ITR forms, chatbot) rolls out by April 2025. Until then, CAs aren’t sweating. “We’ll pivot to advisory roles,” smirks Mumbai tax consultant Priya Reddy. “But honestly? I’m ready to stop playing Google for clients.”
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