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.'

 

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.

Other news

Jaishankar: 'India has the right to defend itself against hostile neighbors', Jaishankar warns Pakistan on terrorism.

Indian External Affairs Minister Dr. S. Jaishankar said in a statement on Friday that India will

There will be a long deliberation on the One Nation-One Election, JPC will also consult the Attorney General to know how much time it will take now.

The Joint Parliamentary Committee constituted for detailed deliberations on the One Nation, One E

Corona cases in the country cross 4300, with 276 cases found in 24 hours; See the condition of your state

Coronavirus cases are continuously increasing in India. Every day a new jump is being seen in the

PM Modi will flag off the first sleeper Vande Bharat train today; the 958 km Howrah-Guwahati distance will now be covered in just 14 hours.

Prime Minister Narendra Modi will flag off India's first Vande Bharat sleeper train today (Januar

An investigation will be launched immediately if there is a 15-minute delay; the government has implemented new rules related to flights. What all will change?

In recent days, affected IndiGo flights have caused inconvenience to millions of people. The Indi

Nepal Social Media Ban Removed: After protests and violence, the Nepal government takes a U-turn, removes ban on social media

The Nepalese government has announced the lifting of the ban on social media after violent protes

Hardik Pandya's new girlfriend: These hints prove Mahieka Sharma is Hardik's lady love, and the secret is revealed by the number 33.

After his divorce from Natasha Stankovic, Hardik Pandya's name is being linked with new women eve

Virat Kohli celebrated his victory with his wife, Anushka Sharma, after scoring a century, with beautiful pictures that won hearts.

Bollywood actress Anushka Sharma and Indian cricketer Virat Kohli are considered one of the count

'The establishment of the Sangh on Vijayadashami 100 years ago was no coincidence,' said PM Modi at the RSS centenary celebrations.

Prime Minister Narendra Modi has arrived in New Delhi for the RSS centenary celebrations. He also

Shubman Gill's Birthday: 'Prince' turns 26; fastest 2000 runs in ODIs and average of 59, created many unique records

Indian cricket team's Test captain Shubman Gill turned 26 today. Fans on social media have wished