The Lok Sabha on Monday afternoon passed the modified Income Tax Bill, 2025, along with the Taxation Laws (Amendment) Bill, 2025. Members approved the Income Tax (No. 2) Bill, 2025, shortly after Finance Minister Nirmala Sitharaman introduced the revised version. The House passed the legislation to consolidate and amend income tax laws, replacing the Income Tax Act, 1961.
Following the passage of the bill, the Lok Sabha adjourned for the day. The legislation now awaits approval from the Rajya Sabha before seeking the President’s assent.
#WATCH | #Rajyasabha returns the “The Manipur Goods and Services Tax (Amendment) Bill, 2025” and “The Manipur appropriation (No. 2) Bill, 2025”
— SansadTV (@sansad_tv) August 11, 2025
Finance Minister Introduces Revised Bill With Committee Recommendations
#monsoonsession2025#LokSabha passes The Taxation Laws (Amendment)
Bill, 2025The Bill further amends the Income-tax Act, 1961, and the Finance Act, 2025.@nsitharamanoffc @nsitharaman @LokSabhaSectt@loksabhaspeaker pic.twitter.com/6NJk0EHJeQ
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Finance Minister Nirmala Sitharaman introduced the modified Income Tax Bill in the Lok Sabha after incorporating most of the Select Committee’s recommendations. “Almost all of the recommendations of the Select Committee have been accepted by the government. In addition, suggestions have been received from stakeholders about changes that would convey the proposed legal meaning more accurately,” stated the statement of objects and reasons of the bill.
#monsoonsession2025 #LokSabha passes The Income-Tax (No.2) Bill, 2025.
The Bill consolidates and amends the law relating to income tax.@nsitharamanoffc @nsitharaman @LokSabhaSectt@loksabhaspeaker pic.twitter.com/wqYeCrWk9G
— SansadTV (@sansad_tv) August 11, 2025
The revised legislation aims to simplify tax laws and improve clarity in legal interpretation.
Bill to Replace Income Tax Act, 1961
The new Income Tax Bill, 2025, seeks to replace the existing Income Tax Act, 1961, by consolidating and amending all related laws. Lawmakers debated the provisions before passing the revised bill. The government said it included stakeholder feedback to ensure the proposed law accurately reflects its intended meaning. Once passed by the Rajya Sabha, the bill will be sent to the President for approval, completing the legislative process.
Swastika Sruti is a Senior Sub Editor at NewsX Digital with 5 years of experience shaping stories that matter. She loves tracking politics- national and global trends, and never misses a chance to dig deeper into policies and developments. Passionate about what’s happening around us, she brings sharp insight and clarity to every piece she works on. When not curating news, she’s busy exploring what’s next in the world of public interest. You can reach her at [swastika.newsx@gmail.com]
