
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.
People troubled by rising pollution and smog in the plains, including the capital Delhi, are head
Telegram Ban in India: Why the Government Took This Major Step Before NEET UG Re-Test
In a major move aimed at safeguarding the integrity of the NEET-UG 2026 re-examination, the Centr
After the decision given by the Supreme Court regarding stray dogs in Delhi-NCR, it is being disc
The entire bureaucracy is busy preparing the budget of Haryana for the year 2025-26. While Chief
Audiences have been eagerly awaiting the Marvel Cinematic Universe (MCU)'s most anticipated film,
Millions of salaried employees across India are eagerly waiting for the 8.25% EPF interest for th
Ahead of the first anniversary of the Pahalgam terror attack, the Indian Army on Tuesday issued a
Indian cricket legend Virat Kohli and actress Anushka Sharma were once again spotted at the ashra
What the defense experts were predicting after the resignation of Manipur Chief Minister N Biren
All the six heli companies operating helicopter services for Kedarnath Dham returned from Kedargh