New Delhi, Aug. 9 -- Finance Minister Nirmala Sitharaman moved to withdraw the New Income Tax Bill, 2025, on Friday, after a Parliamentary Select Committee led by BJP MP Baijayant Panda suggested host of changes to the legislation.

The revised New Income Tax Bill, 2025, will be introduced in the Parliament on August 11, sources said.

The House approved the withdrawal of the Bill amid uproar by Opposition members.

The 31-member Select Committee had made a number of recommendations and suggestions to the original Bill.

1. The report of the parliamentary panel on the New Income Tax Bill was presented in the Lok Sabha on July 21. In the report, the Select Committee suggested changes including tightening of definitions, removing ambiguitie...