Parliament’s select committee examining the Income Tax Bill, 2025, may not recommend any significant changes to the new provisions but only suggest "simplification of language" in some clauses to remove ambiguity, a source privy to the matter told Moneycontrol. "The select committee has almost finalised its report (on the new bill)… There are no major recommendations," the person said. The committee, led by BJP MP Baijayant Panda, would submit its report to the government on the first day of the monsoon session, likely to begin in July’s third week. The Income Tax Bill, 2025, was tabled by Finance Minister Nirmala Sitharaman in Parliament on February 13, as announced in the budget.