New Delhi, July 16, 2025: A parliamentary panel scrutinising the landmark Income Tax Bill, 2025 has suggested as many as 285 changes to the draft legislation, which aims to overhaul and modernise India’s income tax laws.
The Select Committee of the Lok Sabha, chaired by BJP leader Baijayant Panda, finalised its report on Wednesday. The report is set to be tabled in the Lok Sabha on Monday, coinciding with the opening day of Parliament’s Monsoon session.
“We have made 285 suggestions to the Bill,” confirmed a member of the committee, reflecting the panel’s extensive engagement with the proposed legislation.
The government is expected to review the panel’s recommendations. Should any significant changes be required, the revised draft will be placed before the Cabinet for approval before it is introduced in the Lok Sabha for debate and passage.
The Income Tax Bill, 2025, if passed, will come into effect from April 1, 2026. The legislation seeks to replace the over six-decade-old Income Tax Act of 1961, which has undergone 65 amendments and more than 4,000 changes since it came into force on April 1, 1962.
Government sources say the new Bill is designed to simplify the language of the tax code, remove redundancies, and streamline procedures, all with an eye on improving the taxpayer experience and ensuring greater compliance.
Finance Ministry officials have described the proposed legislation as a significant step towards a “modern, transparent, and efficient” tax regime in line with India’s evolving economic landscape.
The Income Tax Bill, 2025 is widely expected to be among the key legislative agendas of the Monsoon session.
Parliamentary Panel Proposes 285 Changes to Income Tax Bill, 2025 Ahead of Monsoon Session
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