The Income-tax Bill, 2025: Key amendments proposed by the Select Committee

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The Income-tax Bill, 2025 Key amendments proposed by the Select Committee in its report tabled in the Parliament

The Income-tax Bill, 2025: Key amendments proposed by the Select Committee in its report tabled in the Parliament

The Income-tax Bill, 2025 was introduced in the Parliament on 13 February 2025 with the objective to make the income-tax law concise, lucid and easy to read and understand. The Bill seeks to replace the Income-tax Act, 1961.
To ensure that the Bill aligns with its stated objectives, is procedurally sound, and does not conflict with existing laws, it was referred to a 31-member Select Committee (the Committee) for a detailed examination.
Following extensive consultations with experts and stakeholders, the Committee tabled a revised version of the Bill along with a comprehensive report exceeding 4,500 pages, before the Lok Sabha on 21 July 2025.
The Committee has recommended several language refinements and referencing corrections aimed at simplifying the Bill, reducing ambiguity, and eliminating anomalies in the original draft.