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

'The whole of India will be grateful to you...', PM Modi suddenly reached Adampur airbase and met the army soldiers;

After addressing the country on Operation Sindoor, PM Modi reached Adampur Airbase in Jalandhar e

Waqf Act Row: Hearing on petitions against Waqf Amendment Act in Supreme Court today, many states have challenged it

The Supreme Court will hear petitions against the constitutional validity of the Waqf (Amendment)

'PM Modi is afraid of Trump': Rahul attacks PM over US President's claim about Russian oil purchases

Congress leader Rahul Gandhi has once again launched a scathing attack on PM Modi, accusing him o

Upon seeing Dharmendra's poster, Salman Khan's steps suddenly halted, and Bhaijaan couldn't control his emotions.

Sriram Raghavan's upcoming war drama film 'Ikkiis' is special for fans for several reasons. It's

Sardaar Ji 3: Insta accounts of many Pakistani artists, including Mawra-Saba, active amid controversy, users raised questions.

After the Pahalgam attack in April, the Instagram accounts of Pakistani artists were suspended in

MS Dhoni showered his love for CSK amidst talks of retirement, said- I will always be with them.

Mahendra Singh Dhoni's future in IPL is being discussed continuously. Many reports claimed that M

Harvard Row: Why was Harvard banned from admitting foreign students, what is the impact of Trump's decision on India?

Harvard University will no longer be able to admit foreign students. The Donald Trump administrat

'Towel, knife and hair clip...' An Army officer going home on leave helped a woman deliver a baby at the railway station, the Army Chief honoured him

Army Chief General Upendra Dwivedi recently praised a soldier, knowing the reason behind which yo

Konaseema ONGC Well Fire: The fire at the ONGC well is out of control; experts have been called in from Mumbai and Delhi to Andhra Pradesh.

ONGC expert teams from Mumbai and Delhi have been dispatched to the site to extinguish a massive

Wasim Akram-Bumrah: What did Wasim Akram say? He called the comparison with Bumrah 'Abdullah Deewana at a stranger's wedding.

Wasim Akram, the great fast bowler of the 90s, gave a befitting reply to his comparison with Jasp