The lower house of Parliament, Lok Sabha, is expected to soon introduce the New Income Tax Bill 2025. Prior to this, the draft of the bill has surfaced.
This draft comprises a substantial 622 pages. During the budget speech on February 1, Finance Minister Nirmala Sitharaman brought up the introduction of the New Income Tax Bill (New Income Tax Bill 2025).
After its introduction, this bill will be sent to the Lok Sabha's Select Committee for detailed discussion. Last week, it received approval at a meeting of the Union Cabinet.
