
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.
Gujarat Titans suffered a defeat against Lucknow Super Giants on Thursday in IPL 2025. However, t
In response to the terrorist attack in Pahalgam on April 22, the Indian Army took military action
Recently, a Sikh group filed a police complaint in Mumbai against the makers of Dhurandhar and Ra
The wait for Superstar Rajinikanth's fans is over, and their favourite star's much-awaited film '
Bollywood actor Sunny Deol is currently in the limelight for his upcoming film 'Jaat'. This film
Following a volcanic eruption in Ethiopia that had been dormant for nearly 10,000 years, a plume
Intense cold is gripping Delhi, Uttar Pradesh, and the entire North India region. The Meteorologi
Gadar 3: Director reconciles with 'Sakina', is Sunny Deol's Gadar 3 back on track?
After a long wait of 22 years, Sunny Deol made a comeback with Gadar 2 in 2023. His film proved t
The Congress party will hold press conferences in 57 cities across the country between April 21 a
Prime Minister Narendra Modi may visit America next month, i.e., in September. He may address the