Sansad Tv
The passage of the New Income Tax Act, 2025 is a landmark development towards building a streamlined, simplified tax framework aimed, at enhancing transparency, equity, and economic efficiency. Enacted by Parliament after intensive deliberation, the legislation reflects the Government of India’s commitment to modernizing the tax architecture in alignment with global best practices and domestic aspirations.
To modernize and simplify India’s outdated tax laws, the government announced a comprehensive review of the Income-tax Act, 1961. This led to the introduction of the Income-tax Bill, 2025, which was referred to a Select Committee of Parliament for detailed examination. After receiving extensive recommendations and suggestions from stakeholders, the government decided to withdraw the original Bill and introduce a revised version. This updated Bill incorporated most of the committee’s inputs along with improvements in legal clarity and drafting. It was passed by
both Houses of Parliament in the monsoon session and now forms the foundation of India’s new tax
framework.
Guests:
1- Baijayant Panda, Chairman, Select Committee on Income Tax Bill
2- Ravi Agarwal, Chairperson of the Central Board of Direct Taxes
Anchor & Producer: Kriti Mishra
Video Editor: Abhilasha
Sansad Television is the Parliamentary channel of India. It was created in 2021 by merging Lok Sabha Television and Rajya Sabha Television.
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