Try GOLD - Free
Income tax bill a step away from law, panel flags fixes
Hindustan Times Patna
|July 22, 2025
The panel broadly endorsed the govt’s goal of simplifying the tax code
India’s most significant direct tax reform in over six decades moved a step closer to becoming law on Monday, with a Lok Sabha select committee submitting its report on the draft Income Tax Bill, 2025.
The panel broadly endorsed the government's goal of simplifying the tax code, but recommended a series of changes to address potential ambiguities, safeguard taxpayer rights, and ensure regulatory continuity.
‘The report, tabled by committee chair Baijayant Panda, a member of parliament from the Bharatiya Janata Party (BJP), comes within months of the bill being introduced in Parliament in February by finance minister Nirmala Sitharaman.
The proposed law is intended to replace the Income Tax Act of 1961, which has served as the cornerstone of India’s direct tax regime for more than six decades.
This story is from the July 22, 2025 edition of Hindustan Times Patna.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Hindustan Times Patna
Hindustan Times Patna
Cong announces protest after Nat’l Herald verdict
The Congress on Wednesday announced a nationwide protest against the Narendra Modi government, a day after a Delhi court refused to take cognisance of the Enforcement Directorate's allegations of money laundering against top party leaders Sonia Gandhi and Rahul Gandhi in the National Herald case.
2 mins
December 18, 2025
Hindustan Times Patna
The end of MGNREGS
VB-G RAM G's funding and administrative structure should strengthen and expand rural jobs, not weaken the scheme
2 mins
December 18, 2025
Hindustan Times Patna
Gunman charged with 59 offences including murder
Australian authorities charged the surviving gunman in Sydney Hanukkah attack that killed 15 with 59 offences, including murder and terrorism, Bloomberg reported.
2 mins
December 18, 2025
Hindustan Times Patna
US readies new sanctions if Putin rejects peace deal
The US is preparing a fresh round of sanctions on Russia's energy sector to increase the pressure on Moscow should President Vladimir Putin reject a peace agreement with Ukraine, according to people familiar with the matter.
1 min
December 18, 2025
Hindustan Times Patna
I was choking on stage: Delhi AQI forces Kavita Seth to cancel Mumbai gig
Singer Kavita Seth has spoken about a harrowing live performance in Delhi, where the severely deteriorating air quality left her struggling to breathe on stage and ultimately forced her to cancel a subsequent concert in Mumbai.
1 min
December 18, 2025
Hindustan Times Patna
From sedition to UAPA: Policing dissent in India
Few laws reveal the Indian State's unease with dissent as starkly as sedition.
3 mins
December 18, 2025
Hindustan Times Patna
Can diet hold a key to cancer control?
Cancer still remains a prominent cause of mortality across the globe.
1 mins
December 18, 2025
Hindustan Times Patna
America-first compass for new security strategy
The US's new National Security Strategy signals a “hands-off” approach towards matters that are not of American interests. All tools will be used to ensure the US's primacy remains intact
5 mins
December 18, 2025
Hindustan Times Patna
Rishab reacts to Ranveer's Kantara mimicry controversy
At the International Film Festival of India (IFFI) in Goa, actor Ranveer Singh courted controversy when he mimicked daivas on stage.
1 min
December 17, 2025
Hindustan Times Patna
The path before India as Bangladesh transitions
New Delhi's approach must balance immediate pressures with longer- term vision and tactical adjustments with strategic consistency
4 mins
December 17, 2025
Listen
Translate
Change font size