New Delhi, Aug. 8 -- The Cabinet has approved the revised Income Tax Bill, 2025, sources said on Friday.

The approval comes weeks after a new version of the Income Tax Bill, incorporating most of the recommendations made by the Select Committee chaired by BJP MP Baijayant Panda, was submitted to the Cabinet.

The revised new Income Tax Bill, 2025, will be tabled in the Parliament on Monday, August 11, the sources said.

The Income-Tax Bill, 2025, which was introduced in the Lok Sabha on February 13 to replace the existing Income-Tax Act, 1961, has been formally withdrawn, they added.

(This is a developing story. Check back for updates)

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