What key edits did LS panel propose in the now-withdrawn Income Tax Bill 2025?
Select Committee of Lok Sabha had made 32 key recommendations in the now-withdrawn Income Tax Bill, 2025, which will mostly be incorporated in the new revised version. The key edits included changing the definition of "beneficial owner" regarding shares, changing how deductions on house property income are calculated and dropping mandatory ITR filing for claiming refunds for small taxpayers, etc.