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.

Other news

Tahawwur Rana: Rana had helped Headley in getting an Indian visa, he had come to India before the Mumbai attack

Mumbai terror attack conspirator Tahawwur Rana had helped co-conspirator David Komlan Headley to

Tiranga Yatra: CM Yogi said- Whoever points a finger towards India, there will be no one to cry at his funeral

Chief Minister Yogi Adityanath said that patience and unity are our biggest assets during a natio

India's 'digital strike' after Pahalgam attack, Pakistan government's official X account suspended

After the terrorist attack in Pahalgam, Jammu, and Kashmir, India is continuously taking strict a

A mock drill will be conducted at five places in every district of Delhi, time has been fixed for each area.

On Wednesday evening, mock drills will be held at five places in every district of Delhi. War sir

IND vs NZ Final: The goal of invincible India is to destroy the challenge of the Kiwis, their record in knockouts is not good

In the final of the Champions Trophy to be held on Sunday, the Indian team will enter the final w

Anup Jalota: 'If you're not getting work, then convert back to Hinduism...', Anup Jalota gives advice to Rahman amidst controversy.

Renowned musician AR Rahman recently made a statement that has sparked considerable controversy.

Delhi Polls: BJP claims to win 50 seats, the party will file a case against Sanjay Singh for buying MLAs

BJP has claimed that it will win at least 50 seats in Delhi. After the review meeting held yester

Will the central government present the Union Budget on Sunday this time? A decades-old tradition could be broken; a meeting is scheduled for today.

The countdown to the Union Budget 2026-27 has begun. As always, the central government is likely

Vaibhav Suryavanshi: 'Sachin also played at a young age...', Srikkanth makes a big demand to the BCCI regarding Vaibhav Suryavanshi.

Former Indian captain Krishnamachari Srikkanth has made a strong appeal to the BCCI regarding you

IND vs NZ T20I 2026: India will take revenge for the ODI series defeat in the T20 series; here is the complete schedule against New Zealand.

After the three-match ODI series, India and New Zealand are now set to play a five-match T20I ser