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.'

 

Did you know?Explore Trending and Topic pages for more stories like this.

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

EPFO Alert: UAN Face Authentication Now Mandatory for PF Withdrawals — Check Full Verification Process

The Employees’ Provident Fund Organisation (EPFO) has introduced a major update for EPF acc

PM Modi: PM Modi will visit four states in two days, will inaugurate development projects here today; public meetings and road shows

Prime Minister Narendra Modi will be on a two-day visit (29 and 30 May) to Bengal, Sikkim, Bihar,

Himachal Rain: Red alert for heavy rain in these districts of Himachal, orders issued to keep schools closed today in many places, including Shimla

Heavy rains continue in Himachal Pradesh. Heavy rains occurred in Kangra, Bilaspur, Kullu, Hamirp

Bengal Violence: Focus on protecting the rights of minorities; India's blunt statement angered by Bangladesh's comment

India has given a befitting reply to Bangladesh for commenting on the violence in West Bengal. Th

Unnao Rape Case: 'We are accountable to the victim', bail granted to Sengar stayed; what else did the CBI say in the Supreme Court?

The Supreme Court on Monday stayed the Delhi High Court's order suspending the life sentence of f

Rakesh Bedi reacted to the praise Akshay Khanna received for the movie 'Dhurandhar', saying, "He has always been in the game."

Akshaye Khanna played the role of the dacoit Rehman in the movie Dhurandhar. As soon as the film

'Never thought I'd make it out alive...' Anurag Dobhal shares his first post from the hospital, describes himself as an 'orphan'.

An update has emerged regarding the health of YouTuber and Bigg Boss fame Anurag Dobhal. He has s

RCB vs LSG: 'Had we scored 175 runs, the match would have been ours...' — After the defeat, Nicholas Pooran reveals where Lucknow went wrong.

RCB defeated LSG by 5 wickets in the 23rd match of IPL 2026, securing their fourth victory of the

The New Year was welcomed with faith, joy, and cheers; not only in the mountains and by the sea, but also with a surge of devotees at the country's major temples.

The New Year 2026 was welcomed across the country with devotion, joy, faith, and cheers. People e

Post-Poll Violence in Bengal: Security Forces Fired Upon in Sandeshkhali; Bulldozer Deployed at TMC Office in Kolkata

Tensions have escalated in West Bengal following the crushing defeat of the Trinamool Congress (T

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