New Delhi: Lok Sabha Speaker Om Birla on February 15 constituted a Select Committee to examine the Income-Tax Bill, 2025. Lok Sabha MP Baijayant Jay Panda has been appointed as the chairperson of the panel.
The committee will examine the proposed changes to the Income Tax Bill, 2025, and potential amendments. The panel is expected to submit its report to Parliament by the first day of the next session.
Apart from Panda, the 31-member committee comprises BJP MPs Nishikant Dubey, Jagadish Shettar, Sudhir Gupta, Anil Baluni, Shashank Mani, Naveen Jindal, Anurag Sharma, Congress MPs Deependra Hooda, Benny Behanan, Trinamool Congress MP Mahua Moitra, and and Nationalist Congress Party (SP) legislator Supriya Sule, among others.
Sitharaman tabled the Income Tax Bill, 2025, in Lok Sabha on February 13. The 622-page Bill introduces a new ‘tax year’ concept, set to take effect from April 1, 2026. The Bill has been referred to the select committee for further scrutiny.
Though the new Income Tax Bill does not propose any major structural shifts, it aims to simplify the language of the tax code and remove redundant provisions, as promised by Sitharaman. The Bill now includes 23 chapters, 536 sections, and 16 schedules.
