New Delhi, Feb. 13 -- Prime Minister Narendra Modi government will table the Income Tax Bill, 2025 in the Lok Sabha today. The bill aims to consolidate and amend the law relating to income tax.

According to the agenda circulated by the Lok Sabha secretariat, Union Finance Minister Nirmala Sitharaman will introduce the Income Tax Bill, 2025 on February 13.

The new Bill seeks to replace the Income Tax Act, 1961, which has become too voluminous due to the amendments made over the last 60 years. The new law is expected to come into effect on April 1, 2026.

The much-anticipated Bill will replace terminologies like assessment and previous year with easier to understand 'tax year' as part of move to simplify language while removing provisos a...