Income Tax Bill

The new Income Tax (No. 2) Bill, 2025, which will replace the Income Tax Act of 1961, has been passed by a voice vote in the Lok Sabha. The bill is based on the "S.I.M.P.L.E." principles, standing for a 'Streamlined, Integrated,…

Union Parliamentary Affairs Minister Kiren Rijiju defended the government's withdrawal of the new Income Tax Bill, calling it a "normal procedure" for incorporating a large number of amendments. The Bill was withdrawn to integrate…

Eight new bills, Manipur resolution, and key amendments top the Monsoon Session agenda. Opposition to confront Centre over EC’s voter list revision, judge cash row, and Manipur governance. New Income Tax Bill proposes simplified…