<h1>Government Withdraws Income Tax Bill 2025 to Introduce Updated Version with Select Committee Recommendations</h1> The government withdrew the Income Tax Bill, 2025, in the Lok Sabha to introduce an updated version on August 11, incorporating most recommendations from the Select Committee. The committee suggested several changes, including maintaining tax exemptions on anonymous donations to purely religious trusts while taxing such donations to religious trusts with charitable activities. It also recommended allowing taxpayers to claim TDS refunds after the income tax return filing deadline without penalties. The revised Bill aims to replace the Income Tax Act, 1961, and provide clarity by consolidating all amendments into a single version for parliamentary consideration.