{"id":13344,"date":"2025-08-12T10:23:57","date_gmt":"2025-08-12T04:53:57","guid":{"rendered":"https:\/\/trending.niftytrader.in\/?p=13344"},"modified":"2025-08-12T10:23:57","modified_gmt":"2025-08-12T04:53:57","slug":"govt-withdraws-first-draft-income-tax-bill-2025","status":"publish","type":"post","link":"https:\/\/www.niftytrader.in\/markets\/govt-withdraws-first-draft-income-tax-bill-2025\/","title":{"rendered":"Govt Withdraws First Draft of Income Tax Bill 2025, New Version Coming Soon"},"content":{"rendered":"<p data-start=\"669\" data-end=\"879\">The government has officially withdrawn the first version of the Income Tax Bill, 2025, which was initially tabled in the Lok Sabha on February 13, 2025, to replace the long-standing Income-Tax Act, 1961.<\/p>\n<p data-start=\"881\" data-end=\"1196\">According to sources, a revised version will be introduced on August 11, incorporating most of the suggestions made by the Select Committee chaired by Baijayant Panda. This move aims to provide a clear, updated, and consolidated Bill rather than releasing multiple versions that could cause confusion.<\/p>\n<h2 data-start=\"1198\" data-end=\"1243\">Key Features of the New Income Tax Bill<\/h2>\n<ul data-start=\"1244\" data-end=\"1533\">\n<li data-start=\"1244\" data-end=\"1288\">\n<p data-start=\"1246\" data-end=\"1288\">Implementation Target: April 1, 2026<\/p>\n<\/li>\n<li data-start=\"1289\" data-end=\"1408\">\n<p data-start=\"1291\" data-end=\"1408\">Objective: Simplify language, eliminate redundancy, and streamline processes to enhance the taxpayer experience<\/p>\n<\/li>\n<li data-start=\"1409\" data-end=\"1533\">\n<p data-start=\"1411\" data-end=\"1533\">Historical Context: The current 1961 Act has been amended 65 times with over 4,000 changes to its provisions<\/p>\n<p>Also Read: <a href=\"https:\/\/www.niftytrader.in\/content\/highway-infrastructure-ipo-gmp-drop-allottee-uncertainty\/\">Highway Infrastructure IPO Listing: GMP Declines, Allottees Face Uncertainty<\/a><\/p>\n<div class=\"single-meta yes-0 is-meta-author-text\"><\/div>\n<\/li>\n<\/ul>\n<h3 data-start=\"1535\" data-end=\"1563\">No Change in Tax Rates<\/h3>\n<p data-start=\"1564\" data-end=\"1817\">The income tax department has clarified that the Bill does not propose any change in existing tax rates, including those on long-term capital gains (LTCG). Any confusion on this matter will be addressed during the Bill\u2019s passage in Parliament.<\/p>\n<p data-start=\"1819\" data-end=\"1943\">Once enacted, the new legislation will replace the Income-Tax Act, 1961, which has been in effect since April 1, 1962.<\/p>\n<p><i>Click here to explore: <a href=\"https:\/\/www.niftytrader.in\/\">NiftyTrader<\/a><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The government has officially withdrawn the first version of the Income Tax Bill, 2025, which was initially tabled in the Lok Sabha on February 13, 2025, to replace the long-standing Income-Tax Act, 1961. According to sources, a revised version will be introduced on August 11, incorporating most of the suggestions made by the Select Committee [&hellip;]<\/p>\n","protected":false},"author":10,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1370],"tags":[],"ppma_author":[1386],"class_list":{"0":"post-13344","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-finance-economy-blog"}," _eael_post_view_count":0,"authors":[{"term_id":1386,"user_id":10,"is_guest":0,"slug":"ruchikadave","display_name":"Ruchika Dave","avatar_url":{"url":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/07\/Ruchika-Dave.jpg","url2x":"https:\/\/trending.niftytrader.in\/wp-content\/uploads\/2025\/07\/Ruchika-Dave.jpg"},"0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":""}],"_links":{"self":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/13344","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/comments?post=13344"}],"version-history":[{"count":1,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/13344\/revisions"}],"predecessor-version":[{"id":13393,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/posts\/13344\/revisions\/13393"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media\/13392"}],"wp:attachment":[{"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/media?parent=13344"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/categories?post=13344"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/tags?post=13344"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/www.niftytrader.in\/markets\/wp-json\/wp\/v2\/ppma_author?post=13344"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}