Archive · 20 Jul 2025
Parliament to Discuss New Income-Tax Bill, Monsoon Session Begins
Imagine the government is updating the tax rules, like rewriting the rules of a game.
This update, called the Income-Tax Bill 2025, is being worked on in Parliament.
A committee is sharing their ideas on Monday.
The goal is to make taxes easier to understand and pay.
They're getting rid of confusing terms and trying to make sure there are fewer arguments about taxes.
Parliament will also discuss some other important issues, like rules about goods and services tax for one state and extending a special rule in another state.
Parliament's Monsoon Session begins on Monday, focusing on key bills including the Income-Tax Bill, 2025.
The Select Committee on the Income Tax Bill will table its report in Lok Sabha on Monday.
The new Income Tax Bill aims to simplify tax laws, minimizing litigation and replacing the term 'previous year' with 'tax year'.
The Manipur Goods and Services Tax (Amendment) Bill and a bill extending President's rule in Manipur are also on the agenda.
The government seeks to replace the 1961 Income Tax Act with a modern, comprehensive code.
- Who
- The Select Committee, headed by Baijayant Panda, will table the report.
- What
- The Select Committee will table the Income Tax Bill report in Lok Sabha, along with other key legislation during the Monsoon Session.
- When
- The Monsoon Session begins on Monday, with the Income Tax Bill report being tabled then.
- Where
- The report will be tabled in the Lok Sabha within Parliament.
- Why
- To update and simplify India's tax laws, aiming for clarity and efficiency.
- Session Start Date
- Monday
- Primary Bill
- Income-Tax Bill, 2025
- Committee Chairman
- Baijayant Panda
- Bills to be Introduced
- 8
- Pending Bills
- 7
- The new bill word count
- 2.6 lakh
- Sections in the new bill
- 536
