Income Tax Bill 2025 passed in Lok Sabha: What are the changes?

The Lok Sabha on Monday passed the modified new Income Tax Bill, 2025 and The Taxation Laws (Amendment) Bill, 2025.

The Income Tax (No 2) Bill, 2025, was passed shortly after Finance Minister Nirmala Sitharaman tabled the revised bill.

Following the passage of the crucial new Income Tax Bill, 2025, the Lok Sabha was adjourned for the day.

Nirmala Sitharaman on Monday introduced the modified Income Tax bill in the Lok Sabha after including “almost all of the recommendations of the Select Committee.”

The new revised Income Tax Bill, 2025, is aimed at consolidating and amending the laws related to income tax and will replace the Income Tax Act, 1961.

To replace the current Act, the Bill must be passed by the Rajya Sabha and will then seek the President’s nod.

(This is a developing story. Check back for updates)