New Delhi, Aug. 12 -- The Parliament passed the revised Income Tax Bill 2025, fixing drafting oversights in the earlier February version that had sparked confusion over refunds, tax deducted at source (TDS) rules, and property income deductions. Experts say the changes restore clarity, align the law with long-standing provisions, and will help prevent needless litigation.

"When the Bill was introduced in Parliament, it was referred to the Select Committee headed by Dr Panda. The Committee took representations from trade associations, professionals, and others, and its report contained several recommendations. These were accepted by the finance ministry and the revised Bill with the changes was passed today," said Dinesh Kanabar, CEO, Dhr...