The new direct tax code or the new income tax bill will not include any new taxes, finance secretary Tuhin Kanta Pandey told Moneycontrol in an interview.The new direct tax code was announced in the Budget 2025-26 by finance minister Nirmala Sitharaman and is set to be introduced in the Budget session of the parliament.
“It is an entirely new bill. It is rewritten…It will not change (tax rates).” Pandey was quoted as saying.
Later while speaking at a FICCI conference on the Union Budget 2025-26, Pandey emphasised that the budget’s design ensures growth without stoking inflation pressures.
“When we show the numbers, there is nothing hidden elsewhere. Our entire borrowings are going into CAPEX – nothing could be better than this. It’s a non-inflationary budget,” he said.
The capital expenditure programme of Rs 15.48 lakh crores for fiscal year 2025-26 includes Rs 11.21 lakh crores in direct central government spending and Rs 4.27 lakh crores in grants to states for capital…