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Aug 12, 2025
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Lok Sabha passes new Income Tax Bill amid din without debate
New Income Tax Bill 2025: The Income Tax Bill was passed by the Lok Sabha amid din on Monday, after Finance Minister Nirmala Sitharaman introduced a revised version, incorporating most of the recommendations made by the Select Committee headed by Baijayant Panda.
The bill was tabled on Monday following the government’s decision last week to withdraw the Income-Tax Bill, 2025, which was presented on February 13 to replace the six-decade-old Income-Tax Act, 1961. The new draft, tabled on August 11, aims to provide lawmakers with a single, updated version that reflects all suggested changes.
Explaining the withdrawal in Parliament, Sitharaman said, “Suggestions have been received which are required to be incorporated to convey the correct legislative meaning. There are corrections in the nature of drafting, alignment of phrases, consequential changes and cross-referencing.” She added that the earlier Bill was pulled back to avoid confusion and that the fresh draft will serve as the basis for replacing the 1961 Act.
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