New Delhi, March 25 -- Union Finance and Corporate Affairs Minister Nirmala Sitharaman on Tuesday said that the new Income Tax Bill will be taken up for discussion in the monsoon session of Parliament.

Finance Minister Sitharaman spoke extensively about the Finance Bill today in the Parliament, adding that the Finance Bill 2025 gives unprecedented tax relief to honour taxpayers.

This new Income Tax Bill, tabled in Lok Sabha by Union Finance Minister Nirmala Sitharaman on February 13, seeks to replace the existing Income Tax Act, 1961 and introduce changes that affect different categories of taxpayers, including individuals, businesses, and non-profit organisations.

In the July 2024 Budget, the government proposed a comprehensive review...