Brief by Shorts91 Newsdesk / 02:50pm on 08 Aug 2025,Friday India
Union Finance Minister Nirmala Sitharaman has withdrawn the previously proposed Income Tax (Amendment) Bill in the Lok Sabha, citing the need for revisions and wider consultations. The withdrawn bill aimed at simplifying tax structures and implementing key reforms. A new version of the bill is set to be introduced on August 11, 2025. The move comes amid concerns raised by stakeholders and MPs regarding potential loopholes and lack of clarity in the earlier draft. The fresh bill is expected to address these issues while aligning with India’s evolving economic and fiscal priorities. (PC: ANI)
