New Income Tax Bill: FM Nirmala Sitharaman to introduce I-T Bill 2025 in Parliament on Thursday

New Income Tax Bill News, Income Tax Bill 2025: Finance Minister Nirmala Sitharaman is acceptable to present the Income Tax Bill 2025 successful the Lok Sabha—the little location of Parliament—on Thursday, February 13. She had announced the instauration of a caller income taxation measure successful her Budget code this year. Once turned into law, the Income Tax Bill 2025—or the I-T Bill 2025—will beryllium replacing the six-decade aged Income Tax Act 1961, which is bulkier acknowledgment to a bid of amendments implicit the years.

The caller Income Tax Bill is expected to beryllium a simplified mentation of the existing income taxation law.

FM Nirmala Sitharaman promised the caller Income Tax Bill successful Budget 2025 speech

In her Budget speech, the Finance Minister announced the Narendra Modi government's program to present specified a measure to regenerate the existing taxation law.

"I americium blessed to pass this August House and the state that the caller income-tax measure volition transportation guardant the aforesaid tone of 'Nyaya' (justice). The caller measure volition beryllium wide and nonstop successful substance with adjacent to fractional of the contiguous law, successful presumption of some chapters and words. It volition beryllium elemental to recognize for taxpayers and taxation administration, starring to taxation certainty and reduced litigation," she said. 

"Reforms, however, are not a destination. They are a means to execute bully governance for our radical and economy. Providing bully governance chiefly involves being responsive," the concern curate added.