Lok Sabha Clears New Income Tax Bill 2025 — No Debate Held

Historic Shift

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Simplified Tax Code

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Benefits for Taxpayers

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Business Relief

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Digital Transformation

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Controversy and Next Steps

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Lok Sabha Clears New Income Tax Bill 2025 — No Debate Held

Historic Shift

Replaces the 1961 Income Tax Act; 285 changes suggested by the select committee fully adopted.

Simplified Tax Code

Sections cut from 819 to 536; chapters reduced to 23 for a cleaner, easier-to-navigate tax framework.

Benefits for Taxpayers

Lump-sum pensions from certain approved funds now fully tax-deductible, boosting retirement savings.

Business Relief

No Alternate Minimum Tax for LLPs; simpler compliance rules for trusts and charitable organizations.

Digital Transformation

‘Tax Year’ replaces ‘Assessment Year’; faceless, digital assessments aim to curb bias and delays.

Controversy and Next Steps

Opposition slams the bill’s passage without debate; govt says process followed standard procedure.