The new Income Tax Bill will be presented on 13 February, and preparations to send it to the parliamentary committee; Know what the government's plan is.


Posted on 12th Feb 2025 11:08 am by rohit kumar

The new Income Tax Bill will be introduced in the Lok Sabha on Thursday. The Union Cabinet gave its approval to this bill last week. Sources said that the government wants to have a detailed discussion on the bill and the bill is likely to be sent to the Select Committee for in-depth discussion.

 

Sitharaman had earlier indicated that the bill would be sent to the Parliamentary Committee for scrutiny. He said, 'The process is that the committee makes its recommendations, they come back and then the government considers through the Cabinet whether to accept these amendments or not.'

 

There are still many stages left.

 

It is worth noting that in the budget of July 2024, the government proposed a comprehensive review of the Income Tax Act, 1961. Its objective was to make the Act concise and clear and reduce disputes and litigation.

 

Let us tell you that after the recommendations of the Parliamentary Committee, the bill will be sent to the Cabinet again. If it gets approval from the Cabinet, then it will be introduced in Parliament again. The Finance Minister had said that it has to go through three important stages.

 

Last day on 13 February

The current budget session of Parliament is ending on 13 February. On this day, the government will present the new Income Tax Act and send it to the Parliamentary Committee. The purpose of this new bill is to simplify the income tax law for the common people.

 

The government has already made it clear that no tax burden will be imposed in the new bill. Its purpose is also to reduce tax disputes.

1 Like 0 Dislike
Previous news Next news
Other news

AICWA demands an investigation into the Mumbai kidnapping case; artistes held hostage by a maniac on the pretext of an audition

The recent kidnapping incident at RA Studios in Mumbai's Powai area has shocked the entire film i

Mamata alleges that outsiders are being brought to Bengal to spread riots; CM meets victims during her visit to Murshidabad

West Bengal Chief Minister Mamata Banerjee on Tuesday made a big allegation that outsiders are be

IND vs PAK: 'I had decided as soon as I reached Dubai, some things are above sportsmanship', said SKY, referring to the Pahalgam attack

Indian captain Suryakumar Yadav finally broke his silence on refusing to shake hands with Pakista

'Aurangzeb-like mentality is a threat to the country', what else did RSS General Secretary Dattatreya Hosabale say?

Amidst the ongoing controversy over Aurangzeb and the violence in Nagpur over his tomb, the RSS h

Roadways became rich due to Maha Kumbh: Year's income was made in 45 days, and 29 lakh passengers traveled

The number of passengers who traveled by the buses of Roadways Varanasi region in the last year w

Bigg Boss 19: Kunika causes a scuffle between Shahbaz and Abhishek, and Amal gets furious over kitchen responsibility

Every day, there is some ruckus in TV's popular reality show Bigg Boss 19. Now, a new promo of th

Bihar Election: Rahul Gandhi said- Election Commission is stealing our voters in Bihar, the same was done in Maharashtra

Leader of Opposition in Lok Sabha and Congress MP Rahul Gandhi has fiercely attacked the PM Modi

After defeat in Delhi, Kejriwal in action regarding Punjab, asked MLAs to reach Delhi urgently.

After the Delhi election results, Aam Aadmi Party (AAP) supremo Arvind Kejriwal has focused on Pu

'Iran cannot have nuclear weapons', G7 supports Israel; Iran held responsible for the attacks

The G-7, a group of the world's seven most powerful countries, has expressed its support for Isra

Now Foreign Minister Jaishankar will travel in a bulletproof car with commandos, security increased amid India-Pak tension.

The central government has increased the security of External Affairs Minister S Jaishankar. ANI

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash