The Union government has planned to introduce eight new key Bills, including the Manipur Goods and Services Tax (Amendment) Bill 2025, and the Taxation Laws (Amendment) Bill 2025, in the upcoming Monsoon Session of Parliament scheduled to commence from July 21.
There will be a total of 21 sittings of both houses of Parliament during the Monsoon Session, which will draw to a close on August 21.
According to Lok Sabha Secretariat, the Union government has planned to take up the Jan Vishwas (Amendment of Provisions) Bill 2025, the Indian Institute of Management (Amendment) Bill 2025, the Geoheritage Sites and Geo-relics (Preservation and Maintenance) Bill 2025, the Mines and Mines (Development and Regulation) Amendment Bill 2025, the National Sports Governance Bill 2025 and the National Anti-Doping (Amendment) Bill 2025 for introduction and passing in the Lok Sabha.
The Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the State of Goa Bill 2024, the Merchant Shipping Bill 2024, the Indian Ports Bill 2025, and the Income Tax Bill 2025 are also expected to be taken up for passage in the lower house.
Meanwhile, the Select Committee of the Lok Sabha to examine the Income Tax Bill-2025, chaired by BJP leader Baijayant Jay Panda, adopted the draft report on the Bill along with the proposed amendments, which will be presented to Parliament on Monday, the first day of the monsoon session. The report of the Committee will be presented to the Lok Sabha on July 21, while the Bill is likely to be passed in the Monsoon session, according to a member.
After the submission of the report by the Committee, the government will consider its recommendations. The government aims to implement the new Income Tax law from April 1, 2026.
The Income-tax Bill 2025, which will replace the six-decade-old Income Tax Act of 1961, will make direct tax laws simple to understand, remove ambiguities and reduce tax disputes.
The simplification exercise was guided by three core principles, which include textual and structural simplification for improved clarity and coherence, ensuring continuity and certainty with no major tax policy changes and no modifications of tax rates to preserve predictability for taxpayers, the finance ministry said.
The Bill, based on global best practices, aims to enhance the ease of doing business by providing a tax framework that is simple and clear. It has led to a substantial reduction in the Act’s volume, making it more streamlined and navigable. The total number of words in the new Income Tax Bill has been reduced to 259,676 from a massive 512,535 words in the existing Income Tax Act, 1961. This close to 50 per cent cut has resulted in a reduction of 252,859 words, according to an official statement.
Accordingly, the number of chapters in the new Income Tax Bill has come down to 23 from 47 in the existing Income Tax Act, 1961. Similarly, the number of sections has been cut to 536 from 819 earlier, which has resulted in removing as many as 283 sections.
This massive reduction has taken place with the simplification of language, making the law more accessible, while the consolidation of amendments has reduced fragmentation.