Income-Tax Bill, 2025: Lok Sabha Select Committee proposed 285 amendments
India is on the cusp of a significant tax reform with the much-anticipated Income-Tax Bill, 2025, poised for passage in the upcoming Monsoon Session of Parliament. This landmark legislation, aiming to replace the six-decade-old Income Tax Act, 1961, has undergone a thorough review by a Lok Sabha Select Committee, which has proposed 285 amendments to the draft Income-Tax Bill, 2025, largely focused on simplification and clarity.