If you thought the fastest thing in Parliament was a tea break, think again. On August 11, 2025, the Lok Sabha set a new record by passing two major tax bills so quickly that even a popcorn machine wouldn’t have finished popping. And here’s the plot twist — there was no debate. Yes, you read that right. No fiery speeches, no desk-thumping drama, not even a sarcastic one-liner from the opposition.
1. Income-tax (No. 2) Bill, 2025 – income tax bill lok sabha
Old law, meet your modern replacement. This bill politely showed the Income-tax Act, 1961 the exit door after over 60 years of service.
The Highlights (minus the legal headache):
- Slimmer and fitter: The law went from 700+ sections to just 536. It’s like the tax code went on a diet.
- Digital makeover: No more scary visits to the tax office — now assessments can be faceless (just like your blind date from last week).
- Taxpayer perks: Keep your ₹12 lakh basic exemption and enjoy quicker refunds, even if you filed late — because who hasn’t been there?
- Cleaner language: Definitions are now less cryptic. If you ever felt “beneficial owner” sounded like a royal title, the new bill clears that up.
Passing scene: The bill was passed via a voice vote in what can only be described as a blink-and-miss moment. One second it was “introduced”, the next second it was “done”.
2. Taxation Laws (Amendment) Bill, 2025
This is like the little sibling who came along for the ride. Its main job? To tweak existing laws so that Unified Pension Scheme (UPS) subscribers get the same tax benefits as NPS folks.
Fun bits:
- Retirement lumpsum? Now more tax-friendly.
- Premature withdrawal? Also treated kinder — because life happens.
- Passed with the same “zero drama” approach. If laws were movies, this one was a silent short film.
Why This Is a Big Deal
- Historic change: First major income tax overhaul in 6 decades.
- Simpler compliance: Less paperwork, fewer headaches, more time to watch cricket.
- Political spice missing: Some are happy about efficiency, others are worried about the lack of discussion — because in Parliament, debates are the masala of the dish.
If Parliament ever starts passing all bills this quickly, popcorn vendors outside will go out of business.