Income Tax Bill 2025 Withdrawn; FM To Introduce New Version On Monday; Internet Jibes ‘Delete The Whole Damn Thing’

The Income Tax Bill 2025 that was introduced in the Lok Sabha on February 13, is effectively withdrawn.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.”

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.”

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