The Central Government on Friday, August 8, formally withdrew the Income-Tax Bill, 2025, which was introduced in the Lok Sabha earlier this year in February, to replace it with the Income-Tax Act, 1961. Finance Minister Nirmala Sitharaman moved the withdrawal motion during the Monsoon Session on August 8, which was approved by the lower house. The decision comes after the Select Committee, chaired by Baijayant Panda, suggested several key amendments to the original draft. Introduced on February 13, the Bill aimed to streamline and modernise the six-decade-old law by removing legal complexities. However, to avoid confusion from multiple amendments, the government opted to present a single, consolidated version. The revised Bill will be tabled in Parliament on Monday, August 11, for fresh debate and consideration. New Income Tax Bill 2025: Parliamentary Panel Recommends Ease in Refunds to Small Tax Payers if IT Return Not Filed in Due Time.

Centre Withdraws Income-Tax Bill 2025

FM Nirmala Sitharaman Moves to Withdraw Income Tax Bill 2025 in Lok Sabha 

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