Finance Minister Nirmala Sitharaman has introduced the New Income Tax Bill 2025 on 11 August 2025 in Parliament. Nirmala Sitharaman introduced the revised version of the Income Tax Bill in the Lok Sabha on Monday, which includes most of the recommendations of the select committee headed by Baijayant Panda. Many new changes have been made in this bill, which will also affect the common taxpayers.

The government withdrew the income tax bill of 2025 last week. This bill was to change the old Income Tax Act of 1961. Now a new draft has been introduced on August 11, which includes all the suggested changes so that MPs can get a clean and updated version.

Finance Minister Sitharaman told in Parliament that we have received some suggestions, which are necessary to include the true meaning of the law. This includes changes like drafting mistakes, organizing sentences, and cross-referenceing. He said that the old bill was withdrawn so that there is no confusion and the new draft would be the foundation to change the 1961 Act.

The news is being updated….