
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.
Horse and mule riders had a field day during Navratri! So many devotees visited Vaishno Devi.
During the ongoing sacred Sharadiya Navratri, a stream of devotion is continuously flowing at the
Actor Farhan Akhtar, who made a great patriotic film like Lakshya, will now be seen playing the r
India's defense forces have carried out precision strikes on terrorist hideouts in Pakistan and P
The nightclub in Goa, where a fire claimed 25 lives, had been the subject of complaints for many
Pakistan's army chief General Syed Asim Munir has made a sharp statement against India and Hindus
Indian young sensation Vaibhav Suryavanshi faced jeering from Pakistani fans after the Under-19 A
Royal Challengers Bangalore (RCB) has announced the new captain for the upcoming IPL season. RCB
Election campaigning for the Assembly polls in Tamil Nadu is currently in full swing. Amidst this
'Operation Sindoor is going on...', Rajnath Singh reveals; 100 terrorists killed in India's action.
Defence Minister Rajnath Singh said in the all-party meeting that at least 100 terrorists were ki
The Maharashtra government has approached the Supreme Court in the case of the 2006 horrific trai