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

Iran-Israel War: There will be no shortage of oil in India, these two countries have joined hands; and made a solid plan

If Iran closes the Strait of Hormuz, Saudi Arabia and Russia may select another route to supply c

T20 World Cup India Squad: The Indian team announced for the T20 World Cup; Gill and Jitesh dropped; Ishan and Rinku return.

Defending champions India, led by Suryakumar Yadav, will defend their title in next year's T20 Wo

Karan Johar: 'If anyone finds out, we won't be able to stay in the city, ' Karan said on the Bollywood WhatsApp group; revealed many secrets

It is said about Karan Johar and some of his friends that they keep up with every gossip of Bolly

Sonu Sood: After Urvashi Rautela, Sonu Sood's name came up in the illegal betting app case, ED sent a summons for questioning

After Bollywood actress Urvashi Rautela, former MP Mimi Chakraborty, former cricketer Suresh Rain

IPL 2025: Controversy heats up between Eden Gardens pitch curator and KKR captain Rahane, know what the whole matter

The era of controversies has also started in IPL 2025. In a new controversy, Kolkata's Eden Garde

T20 World Cup 2026: The World Cup heats up in the first two days! Title contenders avoid upsets, and the excitement reaches fever pitch.

The T20 World Cup 2026 kicked off with tremendous excitement. The tournament couldn't have asked

Bigg Boss 19: Malti threatens to expose Ashnoor, actress gets furious on hearing Abhishek's name

The reality show Bigg Boss Season 19 is nearing its finale, and the atmosphere in the house is de

T20 World Cup: Has Pakistan given in to greed and surrendered to the ICC? Will the PCB benefit from playing against India?

Pakistan has made a U-turn on its decision not to play the T20 World Cup against India. Now, repo

Saurabh Murder Case Updates: Muskan used this trick to buy an injection for anesthesia; even the officers were shocked

In the case of Meerut's Saurabh murder case, the team of the Drugs Department also came into acti

Aamir Khan: Aamir gave a big update on his biggest project 'Mahabharata', know when the film will come on the floor

Actor Aamir Khan is in the news these days for his upcoming film 'Sitare Zameen Par'. New updates

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