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

'My sister's vermilion was ruined...', said Anupam Kher on casting Hania Aamir in Diljit Dosanjh's Sardar Ji 3

Anupam Kher, who has made a place in the hearts of the audience with his acting for the last seve

iPhone17: "I'm Muslim, but I like saffron..." Such was the craze for the iPhone 17; people resorted to violence.

The iPhone craze is widespread across the globe. However, the level of passion seen in India is u

Britain follows Donald Trump's path, 19 thousand illegal immigrants expelled from the country, and action taken against Indian restaurants too

Recently, America has taken action against illegal immigrants. In this episode, America sent back

Trump will impose a 50% tariff on India from today. How much will be the loss? What is the Modi government's plan?

Even after the announcement of imposing a 50 percent duty on India, the government will have to p

'We are fighting the second war of independence', Kharge's allegation in Congress convention- BJP won Maharashtra elections by rigging

In the two-day session of Congress on the banks of Sabarbati river in Ahmedabad, Gujarat, party p

The provision of being a Muslim for 5 years was rejected, some sections were banned; the Supreme decision on Waqf law.

The Supreme Court on Monday pronounced its verdict on a petition challenging the validity of the

There will be a long deliberation on the One Nation-One Election, JPC will also consult the Attorney General to know how much time it will take now.

The Joint Parliamentary Committee constituted for detailed deliberations on the One Nation, One E

'Will not tolerate any insult to Eknath Shinde', Influencer Faizan Ansari threatens to burn Kunal Kamra alive.

The matter of comedian Kunal Kamra's objectionable comment on Maharashtra Deputy Chief Minister E

Dead Economy Row: Rahul got into trouble for supporting Trump's comment on the Indian economy; his party showed him the mirror

Apart from tariffs, US President Donald Trump is also in the news for his comments on India's eco

Ahmedabad Plane Crash: Home Minister Shah expressed grief over the plane crash, The Aviation Minister said - we are keeping an eye on the situation

A major plane crash occurred in Ahmedabad, Gujarat on Thursday. The plane is said to be of Air In

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