The Income Tax Bill 2025 that was introduced in the Lok Sabha on February 13, is effectively withdrawn. The new IT bill that was rolled out to replace the Income Tax Act, 1961 is annulled, while a new amended IT Bill will be introduced on Monday.
The new version of the IT Bill will include all the recommendations as made by the selection committee headed by Baijayant Jay Panda, a BJP MP. Speaking with IANS, Mr Panda stated
The current Income Tax Act of 1961 has undergone more than 4,000 amendments and contains over 5 lakh words. It has become too complex. The new bill simplifies that by nearly 50 percent—making it far easier for ordinary taxpayers to read and understand.”
#BreakingNews : #IncomeTaxBill, 2025 withdrawn; new version coming August 11@Shrimichoudhary pic.twitter.com/VhkLqWIZxm
— NDTV Profit (@NDTVProfitIndia) August 8, 2025
Reactions poured in on social media over the new Income Tax Bill 2025. One user asked, “What happened to the Halwa?” Another remarked, “As a citizen — transparency aur simplicity chahiye… aise rollback se trust nahi banega boss! “Bharat badal raha hai… par Income Tax rules har mahine!” A third user wrote, “Will be replaced by something that rips salaried taxpayers’ skin from bones.” Yet another user asked, “Ye kya dhoka hai bhai?” One user suggested, “Just delete the whole damn thing.”
What happened to the halwa ? pic.twitter.com/IxdsUqcxtl
— Anoop Zombie (@anoopzombie) August 8, 2025
As a citizen — transparency aur simplicity chahiye… aise rollback se trust nahi banega boss!
“Bharat badal raha hai… par Income Tax rules har mahine!”
— Vimdhayak jii (@_vimdhayak_jii) August 8, 2025
Will be replaced by something that rips salaried taxpayers skin from bones
— KARTIK CHAUDHARY (@kartik_chau) August 8, 2025
ye kya dhoka hai bhai
— Bleed Blue (@CricCrazyVeena) August 8, 2025
Why waste 60000 man hours when the decision is clear income tax Udao , zero income tax , just delete the whole damn thing https://t.co/KU05xb2t2Z pic.twitter.com/Xm2WpibDPT
— Himanshu Kumar (@HimanshuKumar40) August 8, 2025
Bill to bahana hai phir s halwa khana h https://t.co/O4rvaxihfO pic.twitter.com/8eq5UxZCne
— BharatUnfiltered (@yoursatishbro) August 8, 2025
See Also: Income Tax Officers Can Soon Access Your Emails And Social Media Accounts To Detect Fraud: Report
See Also: Budget 2023: 5 Major Announcements Including No Income Tax Up To 7 Lakh; Twitter Reacts
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