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.
There's intense debate worldwide about whether US President Donald Trump will receive the Nobel P
Delhi Chief Minister Rekha Gupta has been given Z-category security. According to sources, the ce
Continuous rain is wreaking havoc in Uttarakhand. A late-night cloudburst in Dehradun's Sahastrad
After the Pahalgam terrorist attack, tensions between India and Pakistan are constantly increasin
Vijay Hazare Trophy: 15 fours and 8 sixes... Dhruv Jurel smashes his first List A century.
Indian wicketkeeper-batsman Dhruv Jurel has scored his first List A century. In the third-round m
Malayalam superstar Mohanlal's film 'Thudaram' has become a blockbuster film. It has performed br
The audience is eagerly waiting for the third part of the film 'Hera Pheri'. But, when the news s
Chandigarh Police has registered an FIR against singer Masoom Sharma for singing the banned song
The Shri Mata Vaishno Devi Institute of Medical Excellence will be permanently closed even before
On Tuesday, terrorists in Pahalgam, Jammu, and Kashmir, killed at least 26 people by firing indis
