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New Tax Bill to Access Your Digital Accounts!

New Tax Bill to Access Your Digital Accounts!

The new Income-tax Bill will empower tax officers to access social media and digital accounts, including online banking and trading platforms. This change aims to include "virtual digital space" in the tax authorities' search and seizure powers, making it easier to investigate tax evasion. While the bill simplifies existing provisions, it does not grant new powers but clarifies the ability to access digital information. These changes are part of a broader effort to modernize India’s outdated tax system, with the bill expected to take effect by April 2026 after parliamentary approval.

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