Centre Withdraws Income Tax Bill 2025, Updated Version To Be Introduced On August 11

The Union Government on Friday withdrew the Income TaxTaxTax Bill, 2025, which was introduced in the Lok Sabha on February 13 this year to replace the six-decade-old Income-Tax Act, 1961.

Finance Minister Nirmala Sitharaman said that the government will come up with a revised version of the Bill after incorporating changes suggested by the Select Committee chaired by Baijayant Panda, and will be introduced in the House on Monday, August 11, news agency PTI reported.

To avoid confusion by multiple versions of the Bill and to provide a clear and updated version with all changes incorporated, the new version of the Income Tax Bill will be introduced for the consideration of the House on Monday, the news agency reported, citing sources.