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        PTI News

        Govt lists Income-Tax Bill, 2025 for introduction in LS on Thursday

        February 12, 2025

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        New Delhi, Feb 12 (PTI) The government has listed a bill to consolidate and amend the law relating to income-tax for introduction in the Lok Sabha on Thursday.

        According to the agenda circulated by the Lok Sabha secretariat on Wednesday, Finance Minister Nirmala Sitharaman will introduce the Income-Tax Bill, 2025.

        The much-anticipated Bill will replace terminologies like assessment and previous year with easier to understand 'tax year' as part of move to simplify language while removing provisos and explanations. PTI NAB KVK KVK

        Tax law consolidation: new Income Tax Bill replaces 'assessment' and 'previous year' with 'tax year' to simplify language. An omnibus Income Tax Bill is proposed to consolidate and amend income tax law by replacing terms like assessment and previous year with tax year, and by removing provisos and explanatory clauses to simplify statutory language and improve clarity in application.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Tax law consolidation: new Income Tax Bill replaces 'assessment' and 'previous year' with 'tax year' to simplify language.

                                An omnibus Income Tax Bill is proposed to consolidate and amend income tax law by replacing terms like assessment and previous year with tax year, and by removing provisos and explanatory clauses to simplify statutory language and improve clarity in application.


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