With reference to the Select Committee report on the Income-Tax Bill, 2025, consider the following statements: 1. The committee was an ad hoc body formed specifically to scrutinize the proposed overhaul of the Income-Tax Act, 1961. 2. Based on the committee's recommendations, the government withdrew the original bill and introduced the Income-Tax (No. 2) Bill, 2025. Which of the statements given above is/are correct?

Question

Accepted Answer

Both 1 and 2 — Statement 1 is correct as a Select Committee is an ad hoc legislative committee formed for a specific bill, unlike permanent Standing Committees. Statement 2 is correct as the original bill was withdrawn in August 2025 and replaced by the Income-Tax (No. 2) Bill, 2025, which successfully incorporated the committee's drafting corrections.

Select Committee Report on Income-Tax Bill Tabled

Singapore Court Recognises Indian NCLT Insolvency Proceedings