Archive · 8 Aug 2025
Revised I-T Bill Set for Lok Sabha Introduction on Monday
The government is reintroducing the Income-Tax Bill, 2025, in the Lok Sabha with changes.
A special committee reviewed the original bill and suggested updates to clarify tax laws.
The new bill will replace older tax laws.
The updated bill will include the committee's recommendations.
This is being done to simplify the tax system.
The committee suggested keeping tax exemptions and adjusting refund rules.
The goal is to reduce any confusion in understanding the taxes.
The new version of the bill will be placed on August 11.
The revised Income-Tax Bill, 2025 will be introduced in Lok Sabha on Monday.
The original bill was withdrawn to incorporate Select Committee recommendations.
The new bill aims to replace the Income-Tax Act, 1961.
The Select Committee proposed modifications after reviewing the bill.
Key recommendations include retaining tax exemptions and allowing TDS refunds.
- Who
- Union finance minister Nirmala Sitharaman
- What
- A revised Income-Tax Bill, 2025, will be introduced in the Lok Sabha.
- When
- The new bill will be introduced on Monday, August 11.
- Where
- Lok Sabha
- Why
- To incorporate the recommendations from the Select Committee and to provide a clear, updated draft.
- Bill Name
- Income-Tax Bill, 2025
- Reintroduction Date
- August 11
- Original Bill Introduction
- February 13
- Objective
- Replace Income-Tax Act, 1961
- Key Change
- Incorporating Select Committee recommendations
- Committee Chair
- Baijayant Panda
- Key Recommendation
- Retaining tax exemption for anonymous donations
Sources
Cabinet likely to consider revised Income Tax Bill on Friday
Centre approves revised Income Tax Bill 2025, to be tabled in Parliament on August 11
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