Income Tax Bill 2025 a milestone for 'Ease of Doing Business', says MP Raju Bista as Parliamentary Panel finalizes report

The Parliamentary Select Committee on Income Tax (PSC-IT) has officially adopted its report on the much-anticipated Income Tax Bill, 2025. This marks a major step towards reforming India's tax system to make it simpler, more transparent, and more citizen-friendly.

According to Raju Bista, Member of Parliament from Darjeeling and a member of the committee, the report’s adoption comes after nearly five months of extensive discussions and consultations. Over 36 meetings were held by the committee to thoroughly review every aspect of the proposed legislation.

The committee followed an inclusive approach, giving a platform to a wide range of stakeholders. These included common citizens, government officials, legal professionals, and representatives from professional bodies such as the Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI), and Institute of Cost Accountants of India (ICMAI). Non-profit organizations and tax experts were also consulted. All these interactions helped shape the final recommendations of the committee.

Raju Bista praised the leadership of the committee’s Chairman, Shri Baijayant Panda, for guiding the team through the complex process. “I thank Panda ji for his clear direction and steady leadership throughout the process. I also appreciate the contributions of my fellow members, who set aside political differences and worked together to build a better future for the country,” he said.

The new Income Tax Bill, 2025 is expected to bring major changes in how taxes are filed and collected in India. It aligns with Prime Minister Narendra Modi’s broader vision of improving the “Ease of Doing Business” and the “Ease of Living” for all citizens. The bill is seen as a step towards reducing bureaucratic hurdles and making tax compliance easier for individuals and businesses alike.

Bista also thanked the Government of India for its commitment to reforming the tax system in a holistic manner. “This bill aims to simplify the entire framework of income taxation. It lays the foundation for a system that is efficient, transparent, and truly focused on the needs of ordinary citizens,” he said.