Lok Sabha passes Income-tax (No. 2) Bill, 2025

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  • Last Updated on 12 August, 2025

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Income-tax

Bill No. 104 of 2025, dated 11-08-2025

Introduction of the Income-tax (No. 2) Bill, 2025
Finance Minister Nirmala Sitharaman presented the Income-tax (No. 2) Bill, 2025, in the Lok Sabha. This new version of the bill incorporates more than 250 recommendations from the Select Committee that reviewed the earlier draft. The changes aim to address various stakeholder concerns and enhance clarity in tax provisions.

Withdrawal of the Earlier Version
Just a week prior, the Finance Minister had withdrawn the original Income Tax Bill, 2025, from the Lok Sabha. The withdrawal was seen as a move to ensure that the legislation was more comprehensive and reflected feedback from experts, lawmakers, and industry representatives.

Incorporation of Committee Suggestions
The inclusion of over 250 suggestions from the Select Committee demonstrates the government’s responsiveness to parliamentary review and consultation processes. These suggestions cover a wide range of provisions in the Income-tax framework, aiming to improve tax compliance, reduce ambiguities, and streamline administration.

Passage in the Lok Sabha
Following its introduction, the Income-tax (No. 2) Bill, 2025, was debated and subsequently passed by the Lok Sabha. The passage marks an important step in updating and refining India’s direct tax laws, paving the way for the bill’s consideration in the Rajya Sabha before it becomes law.

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Author: Taxmann

Taxmann Publications has a dedicated in-house Research & Editorial Team. This team consists of a team of Chartered Accountants, Company Secretaries, and Lawyers. This team works under the guidance and supervision of editor-in-chief Mr Rakesh Bhargava.

The Research and Editorial Team is responsible for developing reliable and accurate content for the readers. The team follows the six-sigma approach to achieve the benchmark of zero error in its publications and research platforms. The team ensures that the following publication guidelines are thoroughly followed while developing the content:

  • The statutory material is obtained only from the authorized and reliable sources
  • All the latest developments in the judicial and legislative fields are covered
  • Prepare the analytical write-ups on current, controversial, and important issues to help the readers to understand the concept and its implications
  • Every content published by Taxmann is complete, accurate and lucid
  • All evidence-based statements are supported with proper reference to Section, Circular No., Notification No. or citations
  • The golden rules of grammar, style and consistency are thoroughly followed
  • Font and size that's easy to read and remain consistent across all imprint and digital publications are applied