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

Long-distance travel by train has become costlier today, Railways has increased fares after 5 years; Know how much the travel has become costlier

The government has approved the Railway Board's proposal to increase the fare in long distance tr

IND vs SA Playing 11: India will aim to clinch the T20 series; Bumrah to return; is Sanju Samson's inclusion confirmed?

The fifth and final match of the five-match T20 series between India and South Africa will be pla

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

'How much hatred is there in their words?', Harshvardhan Rane's befitting reply to Mawra Hocane's statement

A heated debate has erupted between Bollywood actor Harshvardhan Rane and his Sanam Teri Kasam co

Akshay Kumar has taken responsibility for the auto driver's treatment, and the Mumbai Police have arrested the person who caused the accident.

A car in Akshay Kumar's convoy was involved in an accident on the night of January 19th in Mumbai

IND vs SA: 'If Bumrah's ball gets hit for a six, they'll make a documentary about it...', Indian commentator takes a dig at a Pakistani cricketer?

India defeated South Africa by 101 runs in the first T20I played in Cuttack. Batting first, the I

FIFA World Cup 2026: How to Watch Matches for Free, TV Channels, Live Streaming and Subscription Plans

The FIFA World Cup 2026 is set to become one of the biggest sporting events in history, bringing

IMD issues red alert; over 70 trains arriving in Delhi are delayed by up to 15 hours due to dense fog; see the complete list.

Dense fog enveloped the national capital, Delhi, on Monday morning. The India Meteorological Depa

Jabalpur, Hyderabad, and Bagalkot... Communal tension erupts in three cities across the country; what is the situation now?

Three states, Madhya Pradesh, Telangana, and Karnataka, are witnessing violent clashes between Hi

IND W vs SA W: South Africa halt India's winning streak, Laura Clarke's half-centuries, Richa's hard work goes in vain

South Africa defeated India by three wickets. In a thrilling Women's World Cup match played in Vi

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