New Delhi, Aug. 12 -- The Lok Sabha passed the revised Income Tax (No. 2) Bill, 2025 on Monday, August 11, a move towards replacing the six-decade-old Income Tax Act of 1961. Introduced by Finance Minister Nirmala Sitharaman in the Parliament, the bill aims to streamline and modernise the country's tax framework. It will now move to the Rajya Sabha and, upon securing Presidential assent, become law.

Out of the several provisions mentioned under the proposed bill, some key measures are specifically aimed at pensioners. Here are the top 5 takeaways for pensioners -

The revised bill incorporates the tax relief for Unified Pension Scheme (UPS) subscribers. As per the bill, a subscriber to the Unified Pension Scheme under the National Pensio...