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

Alia Bhatt: Alia Bhatt's former personal assistant arrested, accused of withdrawing lakhs from the actress's account

Bollywood actress Alia Bhatt's former personal assistant Vedika Prakash Shetty has been arrested

MHA Launches MRM Portal: Know the Complete Process to Recover Money Lost in Cyber Fraud

With cybercrime cases such as OTP scams, phishing attacks, UPI fraud, and so-called "digital arre

Gold Price Today: Gold prices fell before Karva Chauth, and silver also lost its value, what is the price in your city?

In the past few days, gold and silver have been setting new records every day. However, today, af

SCO Summit: Three superpowers on one platform; PM Modi, Putin, and Jinping seen together, the world saw the most powerful picture

A very powerful picture emerged from the platform of the Shanghai Cooperation Organization (SCO)

After becoming the world champion, Hardik Pandya got into trouble, accused of 'insulting' the tricolor.

Amid the celebratory atmosphere following the 2026 T20 World Cup title win, Indian cricketer Hard

Stray dog ​​case: Supreme Court says government and those feeding the dogs can be held accountable for dog bites.

The Supreme Court made strong remarks on Tuesday (January 13) during a crucial hearing on the iss

'Everything is being portrayed incorrectly': As trends showed the BJP leading, Mamata Banerjee raised questions about the electoral process.

West Bengal Chief Minister and Trinamool Congress supremo Mamata Banerjee on Monday alleged irreg

Before the release of Border 2, KL Rahul joined this social media trend, and users commented, "Having fun with his brother-in-law..."

With just two days left until the release of Border 2, Sunny Deol, Varun Dhawan, and Ahan Shetty

IPL 2026 Auction: 359 players, 77 slots available… 9 new players added to the auction list; Virat Kohli's favorite among them.

Ahead of the Indian Premier League (IPL 2026) mini-auction, the BCCI has made a significant chang

Jaipur Hospital Fire: 'The smell was coming from inside, began to do it on opening the gate'; Negligence of SMS personnel

A painful accident occurred late Monday night in Jaipur, the capital of Rajasthan. A fire broke o

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