Mumbai, Feb. 14 -- Finance Minister Nirmala Sitharaman introduced the Income-Tax Bill 2025 in the Lok Sabha on Thursday, aiming to overhaul and simplify existing income tax laws. Sitharaman told the lower house that the new legislation is designed for greater clarity, featuring fewer sections and chapters than the current Income Tax Act, making it more accessible to the general public.

The Finance Minister recommended that the bill be sent to a select committee of Parliament for further scrutiny, with the committee's report due on the first day of the next session. Responding to objections from opposition MPs, Sitharaman clarified that the proposed bill comprises 536 sections, a considerable decrease from the 819 sections in the 1961 Inc...