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.
