Revised Income Tax Bill 2025 presented in Lok Sabha

Business Aug 11, 2025

Heads up: The revised Income Tax Bill, 2025 is being presented in the Lok Sabha on August 11, 2025, by Finance Minister Nirmala Sitharaman.
This new version replaces the old 1961 law and brings in a whopping 285 changes suggested by a special committee, aiming to make things smoother for everyone.

Highlights of the new bill

A big win—taxpayers can now claim refunds anytime they file returns, not just before a strict deadline.
There are also fixes for corporate dividend deductions and a new option to get NIL TDS certificates for special tax rates.
Overall, these updates are meant to simplify the process and clear up confusion from earlier versions.