The Government has officially withdrawn the Income-tax Bill, 2025, following recommendations by the Select Committee.
🟢 Key Highlights:
The Bill was introduced in Lok Sabha on 13th Feb 2025.
Select Committee submitted its report on 21st July 2025.
While most recommendations were accepted, further suggestions from other sources highlighted the need for:
▪️ Better legislative clarity
▪️ Drafting corrections
▪️ Phrase alignment & cross-referencing
🔁 Decision: The Government has decided to withdraw the Bill and will introduce a fresh one that better replaces the Income-tax Act, 1961.
