The new Income Tax Bill, introduced in Parliament by Nirmala Sitharaman, aims to simplify and modernise India's tax system without adding new taxes. It features shorter, clearer provisions with a focus on reducing litigation and penalties,

The new Income Tax Bill 2025 was tabled in the Lok Sabha on February 13, following which the Opposition MPs staged a walkout.

Finance Minister Nirmala Sitharaman tabled the new income tax bill - which she had mentioned in her Budget speech on February 1, and which is expected to reduce the jargon in the Income-Tax Act of 1961,

Finance Minister Nirmala Sitharaman introduced the Income Tax Bill, 2025, aiming to simplify tax terminology and reduce legal sections. Despite opposition, the bill was moved to a House committee for further consideration.

The objective of the new Bill is to streamline the Income Tax Act, making it more succinct, understandable, and user-friendly.

Finance Minister Nirmala Sitharaman tabled the new Income Tax Bill 2025 in Lok Sabha on Thursday. The minister moved a motion to form a select committee on the bill, which was passed by the House.

India will introduce a new condensed version of its income tax law in the lower house of the Parliament on Thursday, which aims to simplify the six decades old rules that have led to a slew of litigations.