{"id":4317,"date":"2025-08-11T09:21:33","date_gmt":"2025-08-11T09:21:33","guid":{"rendered":"http:\/\/tezgyan.com\/index.php\/2025\/08\/11\/finance-minister-nirmala-sitharaman-tables-new-income-tax-bill-2025-in-lok-sabha-tax-news\/"},"modified":"2025-08-11T09:21:33","modified_gmt":"2025-08-11T09:21:33","slug":"finance-minister-nirmala-sitharaman-tables-new-income-tax-bill-2025-in-lok-sabha-tax-news","status":"publish","type":"post","link":"https:\/\/tezgyan.com\/index.php\/2025\/08\/11\/finance-minister-nirmala-sitharaman-tables-new-income-tax-bill-2025-in-lok-sabha-tax-news\/","title":{"rendered":"Finance Minister Nirmala Sitharaman Tables New Income Tax Bill 2025 In Lok Sabha | Tax News"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div id=\"story-9498203\">\n<p><span class=\"jsx-730caffcddfd709\">Last Updated:<\/span><time class=\"jsx-730caffcddfd709\">August 11, 2025, 14:48 IST<\/time><\/p>\n<h2 id=\"asubttl-9498203\" class=\"jsx-4625396a04d15488 jsx-1339008989 asubttl-schema\">Finance Minister Nirmala Sitharaman on Monday introduced a revised version of the Income Tax Bill in the Lok Sabha<\/h2>\n<div class=\"jsx-45a692afa6f47900 artsharwrp\">\n<div id=\"artshare\" class=\"jsx-45a692afa6f47900 artshare\">\n<div class=\"jsx-45a692afa6f47900 stickdiv\">\n<div class=\"jsx-45a692afa6f47900 deskwrapstkdiv\">\n<div class=\"jsx-45a692afa6f47900 fontchange\"><img decoding=\"async\" src=\"https:\/\/images.news18.com\/dlxczavtqcctuei\/news18\/static\/images\/english\/font.svg\" height=\"30px\" width=\"30px\" alt=\"font\" class=\"jsx-45a692afa6f47900 lazyload\"\/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<figure class=\"jsx-4625396a04d15488 jsx-1339008989 amimg\"><img decoding=\"async\" alt=\"Finance Minister Nirmala Sitharaman. (File Photo: PTI)\" title=\"Finance Minister Nirmala Sitharaman. (File Photo: PTI)\" src=\"https:\/\/images.news18.com\/ibnlive\/uploads\/2021\/07\/1627283897_news18_logo-1200x800.jpg?impolicy=website&amp;width=400&amp;height=225\" loading=\"eager\" fetchpriority=\"high\" class=\"jsx-4625396a04d15488 jsx-1339008989\"\/><\/p>\n<p>Finance Minister Nirmala Sitharaman. (File Photo: PTI)<\/p>\n<\/figure>\n<p id=\"0\" class=\"story_para_0\"><strong>New Income Tax Bill 2025:<\/strong> Finance Minister <a href=\"https:\/\/www.news18.com\/business\/tax\/fm-sitharaman-to-introduce-new-income-tax-bill-in-lok-sabha-today-what-to-expect-9497212.html\">Nirmala Sitharaman<\/a> on Monday, August 11, 2025, introduced a revised version of the Income Tax Bill in the Lok Sabha, incorporating most of the recommendations made by the Select Committee headed by Baijayant Panda.<\/p>\n<p id=\"1\" class=\"story_para_1\">The government last week withdrew the Income-Tax Bill, 2025\u2014originally tabled on February 13 to replace the six-decade-old Income-Tax Act, 1961\u2014and introduced a revised draft on August 11. The updated version consolidates all proposed amendments into a single, coherent document.<\/p>\n<p id=\"2\" class=\"story_para_2\">Explaining the move in Parliament, Finance Minister Nirmala Sitharaman said the withdrawal was necessary to incorporate suggestions, correct drafting issues, align phrasing, and update cross-references. She added that the fresh draft will serve as the foundation for replacing the 1961 Act, helping avoid confusion.<\/p>\n<h3><strong>Key Recommendations By The Select Committee<\/strong><\/h3>\n<p id=\"4\" class=\"story_para_4\">The parliamentary panel flagged several drafting errors and proposed amendments to reduce ambiguity in the Income-Tax Bill, 2025:<\/p>\n<ul class=\"listOncontentArticleUL\">\n<li><strong>Clause 21 (Annual value of property):<\/strong> Delete the phrase \u201cin normal course&#8221; and explicitly compare actual rent with \u201cdeemed rent&#8221; for vacant properties.<\/li>\n<li><strong>Clause 22 (Deductions from house property income):<\/strong> Clarify that the 30% standard deduction applies after municipal taxes are deducted; extend pre-construction interest deduction to let-out properties.<\/li>\n<li><strong>Clause 19 (Salary deductions \u2013 Schedule VII):<\/strong> Allow commuted pension deductions for non-employees receiving pensions from a fund.<\/li>\n<li><strong>Clause 20 (Commercial property):<\/strong> Revise wording to prevent taxing temporarily unused business premises as \u201chouse property&#8221; income.<\/li>\n<\/ul>\n<p id=\"6\" class=\"story_para_6\">The Committee said these measures would improve clarity, fairness, and alignment with existing tax provisions.<\/p>\n<h3><strong>Provisions In The withdrawn Bill<\/strong><\/h3>\n<p id=\"8\" class=\"story_para_8\">The February draft was billed as the most comprehensive reform of India\u2019s direct tax code in over six decades. Notable features included:<\/p>\n<ul class=\"listOncontentArticleUL\">\n<li>Simplified language, consolidated deductions, and shorter provisions to ease compliance.<\/li>\n<li>Reduced penalties for certain offences to make the system more taxpayer-friendly.<\/li>\n<li>No change in tax slabs, capital gains rules, or income categories.<\/li>\n<li>Lower litigation through a \u201ctrust first, scrutinise later&#8221; approach.<\/li>\n<li>Modernised tax administration with enhanced CBDT powers, digital monitoring, and the introduction of a \u201ctax year&#8221; concept.<\/li>\n<\/ul>\n<p id=\"10\" class=\"story_para_10\">The draft spanned 23 chapters, 536 sections, and 16 schedules, employing tables and formulas for easier interpretation. It also proposed streamlined TDS norms, simplified depreciation rules, and retention of existing residency criteria and financial year timelines.<\/p>\n<div class=\"jsx-95088aad1b3c53cd atawrap\">\n<div class=\"jsx-95088aad1b3c53cd atadetailwrp\">\n<div class=\"jsx-95088aad1b3c53cd ataname\"><span class=\"jsx-95088aad1b3c53cd atthumb\"><\/p>\n<figure class=\"jsx-95088aad1b3c53cd\"><img decoding=\"async\" alt=\"authorimg\" src=\"https:\/\/images.news18.com\/ibnlive\/uploads\/?impolicy=website&amp;width=60&amp;height=60\" class=\"jsx-95088aad1b3c53cd\"\/><\/figure>\n<p><\/span><\/p>\n<div class=\"jsx-95088aad1b3c53cd attitle\"><a href=\"https:\/\/www.news18.com\/byline\/aparna-deb-20948.html\" class=\"jsx-95088aad1b3c53cd atamail\">Aparna Deb<\/a><\/p>\n<p>Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a&#8230;<span class=\"jsx-95088aad1b3c53cd aurpdebtn\">Read More<\/span><\/p>\n<\/div>\n<\/div>\n<p>Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a&#8230;<!-- --> <span class=\"jsx-95088aad1b3c53cd aurpdebtn\">Read More<\/span><\/p>\n<\/div>\n<\/div>\n<div class=\"jsx-4625396a04d15488 jsx-1339008989 artcta\">Stay updated with all the latest business news, including\u00a0<a href=\"https:\/\/www.news18.com\/business\/markets\/\">market trends<\/a>,\u00a0<a href=\"https:\/\/www.news18.com\/topics\/stocks-to-watch\/\">stock updates<\/a>,\u00a0<a href=\"https:\/\/www.news18.com\/business\/tax\/\">tax<\/a>, IPO,\u00a0<a href=\"https:\/\/www.news18.com\/business\/banking-finance\/\">banking finance<\/a>, real estate, savings and investments. Get in-depth analysis, expert opinions, and real-time updates\u2014only on News18. Also\u00a0<span data-olk-copy-source=\"MessageBody\">Download the\u00a0<a href=\"https:\/\/onelink.to\/eng-article-eop\">News18 App<\/a>\u00a0to stay updated!<\/span><\/div>\n<p><span class=\"jsx-4625396a04d15488 jsx-1339008989 coral-count-custom\">view comments<\/span><\/p>\n<div class=\"jsx-4625396a04d15488 jsx-1339008989 brdcrmb\"><a href=\"https:\/\/www.news18.com\/\">News<\/a>  <a href=\"https:\/\/www.news18.com\/business\/\">business<\/a> \u00bb  <a href=\"https:\/\/www.news18.com\/business\/tax\/\">tax<\/a>  <span class=\"brdout\"> Finance Minister Nirmala Sitharaman Tables New Income Tax Bill 2025 In Lok Sabha<\/span><\/div>\n<div id=\"coral-wrap\" class=\"jsx-9278cad478d6a6dc \">\n<div class=\"jsx-9278cad478d6a6dc coral-cont\">\n<div class=\"jsx-9278cad478d6a6dc coltoptxt\">Disclaimer: Comments reflect users\u2019 views, not News18\u2019s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our <a href=\"https:\/\/www.news18.com\/disclaimer\/\" class=\"jsx-9278cad478d6a6dc\">Terms of Use<\/a> and <a href=\"https:\/\/www.news18.com\/privacy_policy\/\" class=\"jsx-9278cad478d6a6dc\">Privacy Policy<\/a>.<\/div>\n<\/div>\n<\/div>\n<p><span class=\"jsx-4625396a04d15488 jsx-1339008989 rmbtn news18_read_more\">Read More<\/span><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/www.news18.com\/business\/tax\/finance-minister-nirmala-sitharaman-tables-new-income-tax-bill-in-lok-sabha-9498203.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Last Updated:August 11, 2025, 14:48 IST Finance Minister Nirmala Sitharaman on Monday introduced a revised version of the Income Tax Bill in the Lok Sabha Finance Minister Nirmala Sitharaman. (File Photo: PTI) New Income Tax Bill 2025: Finance Minister Nirmala Sitharaman on Monday, August 11, 2025, introduced a revised version of the Income Tax Bill&#8230;<\/p>\n","protected":false},"author":1,"featured_media":4318,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[],"class_list":["post-4317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts\/4317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/comments?post=4317"}],"version-history":[{"count":0,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts\/4317\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/media\/4318"}],"wp:attachment":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/media?parent=4317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/categories?post=4317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/tags?post=4317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}