Income Tax Bill 2025 Introduced in Lok Sabha as Opposition Protests Waqf Amendment Report

Finance Minister Nirmala Sitharaman tabled a new Income Tax Bill aimed at simplifying tax laws, while opposition parties staged a walkout over the Waqf Amendment Bill report.

The Income Tax Bill 2025, introduced by Finance Minister Nirmala Sitharaman, seeks to replace the 1961 Income Tax Act with simplified language and structures, including the introduction of a 'tax year' concept.
The proposed bill eliminates terms like 'assessment year,' reduces redundant sections, and includes a Taxpayer's Charter outlining rights and obligations.
The Joint Parliamentary Committee Waqf (Amendment) Bill 2024 was tabled, prompting opposition parties to walk out, citing alleged disregard for dissenting notes.
Opposition leaders criticized the Waqf Bill report as unconstitutional and politically motivated, while the government defended the report's integrity and process.
Lok Sabha proceedings were adjourned until March 10, marking the end of the first phase of the 2025 Budget Session.