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The Income-Tax Bill, 2025, which was introduced in the Lok Sabha on 13th February 2025 to replace the existing Income-Tax Act, 1961, has been formally withdrawn. New Bill will be introduced on August 11: Sources https://t.co/bmOZIQmelC
Centre withdraws Income Tax Bill, 2025 that was introduced in Lok Sabha in February. The Government had introduced the Income-tax Bill, 2025 in the Lok Sabha on 13th of February, 2025 and on the same date it was referred to the Select Committee for examination. The Select https://t.co/aHJHJMHTLx
It already exists, it’s called capital loss carry forward https://t.co/gDsCMyjlmt
India's Finance Minister Nirmala Sitharaman officially withdrew the Income-Tax Amendment Bill, 2025, from the Lok Sabha on August 8. The bill, initially introduced on February 13, 2025, aimed to replace the existing Income-Tax Act of 1961. Following its introduction, the bill was referred to a Select Committee for detailed examination. The government plans to present a revised draft of the Income Tax Bill on August 11, which will incorporate most of the Select Committee's recommendations. The withdrawal and forthcoming revision reflect the government's intent to address concerns raised during the committee review process.
