New Income-Tax Bill Unlikely to be Introduced in Parliament Budget Session

According to Business Standard, the Finance Ministry is set to delay the introduction of the new Income-Tax Bill, with the internal review committee under Chief Income-Tax Commissioner VK Gupta expected to submit its report before the FY26 Budget, after which the Bill will undergo drafting and scrutiny. Finance Minister Nirmala Sitharaman, in her FY25 Budget speech, announced a comprehensive review of the Income-Tax Act aimed at making it concise, clear, and easier to understand.