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The new Income Tax Bill can be introduced in the Parliament during the monsoon session of Parliament on 11 August 2025. According to reports, the bill will be tabled by Finance Minister Nirmala Sitharaman.
The new income tax bill can be tabled in Parliament on 11 August 2025 by the government. Finance Minister Nirmala Sitharaman can present it in Parliament. According to the government, the aim of this bill is to simplify the language and structure of the Income Tax Act 1961.
According to reports, this bill will be introduced in the Parliament by the Finance Minister, which will replace the old Income Tax Act. Earlier, during the budget session, Nirmala Sitharaman had introduced the bill in the Lok Sabha.
What’s new in the bill?
This time the government has designed the new Income Tax Bill according to the common man. The number of chapters in it will be less. The number of chapters has been reduced from 47 to 23. The number of words has also been reduced by almost half to 2,59,676. Now it has 536 sections, earlier there were 819. 57 tables (earlier 18) and 46 formulas (earlier 6) have been added for ease of understanding. Along with this, easy and clear language has been used in the bill so that taxpayers can understand it easily. Old and useless rules have been removed so that there is no confusion. No changes have been made in tax policies and rates so that stability remains for taxpayers.
How was the bill made?
The government prepared this bill in consultation with taxpayers, businesses, industry groups and tax experts. 20,976 suggestions were received online, of which important suggestions have been incorporated. Along with this, the tax simplification models of Australia and the UK were also studied so that global best practices could be adopted.
What is the goal?
The Income Tax Bill 2025 aims to make tax rules less complex, more clear and reliable. By keeping the tax rules the same but making them easier to understand, the government wants to support taxpayers and make the process of doing business in India easier.
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