Income Tax Bill 2025: A Call for Stakeholder Engagement

Parliament examines the Income Tax Bill 2025, encouraging stakeholders' suggestions via an e-filing utility launched on March 8, 2025. The new bill, aiming to replace the Income Tax Act, 1961, focuses on simplifying tax rules and processes to ease compliance and reduce administrative burdens.

The Income Tax Bill 2025, recently introduced in Parliament, is currently under the scrutiny of a Select Committee. Stakeholders are urged to submit their suggestions on the bill's provisions, which will be reviewed by the Select Committee.

Starting March 8, 2025, stakeholders can submit their inputs through a new utility on the e-filing portal. Accessible via https://eportal.incometax.gov.in/iec/foservices/#/pre-login/ita-comprehensive-review, the process involves entering one's name and mobile number followed by OTP validation.

This initiative reviews the Income-tax Act, 1961, aiming to simplify associated rules and forms for easier compliance. The bill, introduced by Finance Minister Nirmala Sitharaman, promises to reduce litigation and administrative burdens across various taxpayer categories.

(With inputs from agencies.)