Parliamentary panel clears Earnings Tax Invoice 2025 with 285 options, to be tabled in Monsoon Session

The Choose Committee of Parliament that examines the Earnings Tax Invoice-2025 is learnt to have finalised its report on Wednesday (July 16, 2025) with about 285 options to alter the laws.

The committee, headed by senior BJP MP Baijayant Panda, is more likely to submit the report within the upcoming Monsoon Session of Parliament. Launched in Lok Sabha on February 13, 2025, the Invoice was referred to a Choose Committee on the identical day with directions to report by the primary day of Monsoon Session.

Finance Minister Nirmala Sitharaman had introduced within the 2024 finances that the Centre will comprehensively assessment the Earnings-Tax Act, 1961 in a time-bound method to make it concise and simply comprehensible. “Accordingly, the Earnings-Tax Invoice, 2025 has been ready which proposes to repeal and change the Earnings Tax Act, 1961,” the Minister mentioned within the assertion of objects and causes of the Invoice.

She added that the Earnings Tax Act handed in 1961 has been subjected to quite a few amendments since its passage. “On account of these adjustments, the essential construction of the Earnings Tax Act has been overburdened and the language has grow to be advanced, growing value of compliance for taxpayers and hampering effectivity of direct tax administration. Tax directors, practitioners and taxpayers have additionally raised considerations concerning the sophisticated provisions and construction of the Act,” she mentioned.

The Opposition had raised apprehensions on sure provisions of the Act and had alleged that it offers for misuse of energy by authorities.