{"id":356398,"date":"2025-08-12T13:30:40","date_gmt":"2025-08-12T08:00:40","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=356398"},"modified":"2025-08-12T13:34:43","modified_gmt":"2025-08-12T08:04:43","slug":"income-tax-no2-bill-passed-by-lok-sabha","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2025\/08\/12\/income-tax-no2-bill-passed-by-lok-sabha\/","title":{"rendered":"Lok Sabha passes Income-tax (No. 2) Bill, 2025"},"content":{"rendered":"<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"margin-bottom: 3%;\">The Union Finance Minister, <span style=\"font-weight: bold;\">Nirmala Sitharaman<\/span>, introduced the new <span style=\"font-weight: bold;\">Income-tax (No. 2) Bill, 2025<\/span> on 11-8-2025 to replace the 6-decade old Income-tax Act, 1961 which was passed by Lok Sabha without debate on 11-8-2025.<\/p>\n<h3>Need to replace:<\/h3>\n<p style=\"margin-bottom: 3%;\">The <span style=\"font-weight: bold;\">Income-tax Act, 1961<\/span> has been subjected to numerous amendments which resulted in overburdening of basic structure and complex language.<\/p>\n<p style=\"margin-bottom: 3%;\">Earlier, the <span style=\"font-weight: bold;\"><a href=\"https:\/\/www.scconline.com\/blog\/post\/2025\/02\/12\/govt-proposes-income-tax-bill-legal-news\/\" target=\"_blank\" rel=\"noopener\">Income-tax Bill, 2025<\/a><\/span> was first introduced during the 2024 Budget which was approved by the Union Cabinet on 7-2-2025. But this Bill was withdrawn by the Government after the Select Committee laid out its report.<\/p>\n<p style=\"margin-bottom: 3%;\">It was noticed that there were corrections in drafting, alignment of phrases, consequential changes and cross- references.<\/p>\n<p style=\"margin-bottom: 3%;\">The new Bill has been introduced in an attempt to make the Act concise, lucid and easy to read and understandable which will help in reducing disputes, litigations and provide clearer tax certainty to taxpayers.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p style=\"font-style: italic;\">The Bill attempts to replace 6-decade old law for the benefit of taxpayers.<\/p>\n","protected":false},"author":67515,"featured_media":356406,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,13],"tags":[2592,87044,51086,81043,41930],"class_list":["post-356398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-statutes","tag-Income_Tax","tag-income-tax-no-2-bill-2025","tag-income-tax-act-1961","tag-income-tax-bill-2025","tag-tax-payers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Income-tax (No. 2) Bill, 2025 introduced in Parliament | SCC Times<\/title>\n<meta name=\"description\" content=\"Government takes another attempt to replace 6-decade old Income-tax Act, 1961 for the benefit of taxpayers by introducing 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