The government on Friday officially withdrew the Income-Tax Bill, 2025, which was introduced in the Lok Sabha on February 13 this year to replace the nearly 60-year-old Income-Tax Act, 1961.
A revised version of the Bill, updated to include most of the Select Committee’s recommendations led by BJP MP Baijayant Panda, is set to be introduced in the House on Monday, August 11.
Officials stated that the withdrawal was intended to avoid confusion caused by multiple versions of the legislation and to ensure lawmakers receive a single, consolidated draft reflecting all proposed changes.
The updated Income-Tax Bill will incorporate most of the Select Committee’s suggestions, sources said.
“To avoid confusion by multiple versions of the Bill and to provide a clear and updated version with all changes incorporated, the new version of the Income Tax Bill will be introduced for the consideration of the House on Monday,” sources added.
What happened in Lok Sabha today
On Friday, Lok Sabha proceedings were adjourned amid loud protests by opposition parties demanding a discussion on the ongoing revision of electoral rolls in Bihar.
Just before adjournment, Finance Minister Nirmala Sitharaman withdrew the earlier Income-Tax Bill, 2025, following the submission of the Select Committee’s report.
As the House convened at 3 pm, Krishna Prasad Tenneti, presiding over the session, requested Sitharaman to move for leave to withdraw the Bill, which she then formally withdrew.
Parliamentary Affairs Minister Kiren Rijiju expressed regret over the opposition’s protests, saying it was unfortunate they wasted time when private member bills were scheduled. He added that the government has been willing to discuss all issues within the rules and should not be accused of a lack of cooperation.