India, Aug. 11 -- Union finance minister Nirmala Sitharaman on Monday introduced the modified Income Tax Bill 2025 in the Lok Sabha after including "almost all of the recommendations of the Select Committee".

The bill, in its original form, was introduced in February and then referred to a Parliamentary Select Committee for review. The committee submitted its recommendations on July 21. Sitharaman said the bill seeks to consolidate and amend the laws relating to income tax and will replace the 1961 act.

Parliamentary affairs minister Kiren Rijiju earlier addressed apprehensions after the withdrawal of the earlier draft. He said the need for a new bill arose as it would have been a tedious process to introduce each of the amendments and ...