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ICAI, presents Specific Clause-wise suggestions on Chapter I to XXIII of the Income Tax Bill, 2025. For now, PART-1 containing chapter I to IV and clauses 1 to 95 is being covered.
The Select Committee of the Lok Sabha, led by chairperson Baijayant Panda of the Bharatiya Janata Party, submitted its detailed report on the Income Tax Bill, 2025, in Parliament on Monday. The Bill was introduced on February 13 by Finance Minister Nirmala Sitharaman.
The long-awaited Income Tax Bill, 2025—a major legislative effort to replace the 63-year-old Income Tax Act, 1961—was officially tabled in the Lok Sabha today, accompanied by a detailed report from the 31-member Select Committee led by BJP MP Baijayant Panda.
A Parliamentary panel, which examined the new Income Tax Bill, on Monday suggested that the Finance Ministry should allow individual taxpayers to claim TDS refunds by filing I-T returns after the due date without penalty, and exempt anonymous donations made to religious-cum-charitable trusts from taxation.
A report of the parliamentary committee set up to scrutinise the new Income Tax Bill, 2025, which would replace the six-decade…
The Parliament’s Select Committee examining the Income Tax Bill, 2025 on Wednesday is learnt to have cleared the proposed legislation without any substantial change, including the contentious provision allowing officers access to communication channels (like WhatsApp) of tax payers facing search or seizure, paving the way for its introduction in the Monsoon Session.
The Income Tax Bill 2025 that aims to simplify the tax law, has been unanimously adopted by the Lok Sabha’s Select Committee today, on July 16.
The Monsoon session of Parliament will kick off on July 21 and end on August 12 and several new bills are proposed to be tabled during this time. Among these, one of the most awaited legislations is the New Income Tax Bill 2025.
The Select Committee suggested changes on the Income Tax Bill, 2025. Words and figures underlined indicate the amendments and (**) mark indicates the omission.
1st Edition, 2025 authored by CA. Arvind Tuli book on Understanding Income tax Bill, 2025 with Notes on Clauses is available
