Nirmala Sitharaman withdraws Income Tax Bill in Lok Sabha; new Bill to be introduced on Aug. 11

Finance Minister Nirmala Sithaman withdrew the 2025 income tax invoice at Lok Sabha on August 8, 2025, and the government will be released with an updated version of the legislation after involving the proposed changes by the Election Committee.

A new version of the income tax invoice will be introduced on 11 August at Lok Sabha.

According to sources, the updated version of the Income Tax invoice will include most of the election committee’s suggestions.

Sources, “In order to prevent the confusion of more than one version of the invoice and to provide an open and updated version with all the changes included, the new version of the income tax bill will be introduced on Monday to take into account the Parliament.” He said.

The Election Committee, headed by Baijayan Panda, proposed a series of changes in the income tax invoice introduced in Lok Sabha on February 13th.

Shortly after the promotion of the Lower Parliament, the Draft Law, which will replace the six -year Income Tax Law, was directed to the Election Committee.

The 31 -member Election Committee made some suggestions on the bill.

In addition, they preferred the constant tax exemption for the anonymous donations made to their religious-cum-life-loving confidence in the new law, and also suggested that TDS requests reimbursement after the date of Filing on ITTS without paying any penalty accusations.

The government in the New Law was exempted from taxing from anonymous donations completely by religious trusts of non -profit organizations (NPOs). However, these donations taken by a religious confidence that may have other benevolent functions such as hospitals and educational institutions will be taxed according to the law according to the law.