Finance Minister Nirmala Sitharaman Introduces Income Tax Bill 2025 in Lok Sabha
Finance Minister Nirmala Sitharaman has introduced the Income Tax Bill 2025 in the Lok Sabha. The bill aims to simplify tax laws in India, making it easier for people to understand and file their taxes.
Opposition’s Concerns
As soon as Sitharaman presented the bill, there was chaos in Parliament. Many Opposition MPs protested and walked out, but the exact number is unclear.
Opposition MP NK Premachandran from Kerala’s Kollam raised concerns that the new bill has more sections than the old 1961 Income Tax Act. Sitharaman responded by explaining that the 1961 law originally had 298 sections, but over time, it grew to 819 sections due to various amendments. She said the new bill reduces the sections to 536, making it simpler.
TMC MP Sougata Ray also criticized the bill, calling the changes “mechanical.” However, Sitharaman defended it, saying the changes are significant. She pointed out that the number of words, sections, and chapters has been reduced, and the language is now simpler in both English and Hindi.
Bill to Be Reviewed by House Committee
Sitharaman suggested that the bill be sent to a Select House Committee for review. The Speaker, Om Birla, will decide the terms of the committee. The committee will submit its report on the first day of the next parliamentary session.