Senate panel defers income tax bill

The Senate Standing Committee on Finance and Revenue has delayed finalising the Income Tax Amendment Bill 2025 and summoned the FBR chairman for the next meeting. The understanding was reached during the committee meeting on Wednesday, chaired by Saleem Mandviwalla, at Parliament House. The session began with the presentation of the committee’s Annual Report covering the period from June 2024 to March 2025. Members of the committee discussed the finalisation of the Private Member’s Bill titled “The Income Tax (Amendment) Bill 2025,” introduced by Senator Zeeshan Khanzada during the Senate sitting on Feb 17. The discussion, however, focused on objections raised regarding the bill’s classification as a money bill, and members explored the possibility of incorporating changes without designating it as such.