New Income Tax Bill 2025: The Income Tax Bill was passed by the Lok Sabha amid din on Monday, after Finance Minister Nirmala Sitharaman introduced a revised version, incorporating most of the recommendations made by the Select Committee headed by Baijayant Panda. The bill was tabled on Monday following the government’s decision last week to withdraw the Income-Tax Bill, 2025, which was presented on February 13 to replace the six-decade-old Income-Tax Act, 1961. The new draft, tabled on August 11, aims to provide lawmakers with a single, updated version that reflects all suggested changes.