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

Gen Z Protest: After Nepal and Sri Lanka, youth protests in Madagascar demand the President's resignation

In Madagascar's capital, Antananarivo, approximately 1,000 young protesters, led by "Gen-Z Madaga

Congress leader's controversial statement: "Slap Kangana Ranaut!" Actress says, "No one can stop her."

The former Tamil Nadu Congress chief has made a controversial statement about Kangana Ranaut. He

The number of devotees taking a dip in Maha Kumbh will cross 50 crores today, and a great record will be created

Faith is surging on the holy Sangam coast. Even after the Maghi Purnima bathing festival, devotee

Pooja Pal MLA: Which party will MLA Pooja Pal join? There was a stir in the political corridors after meeting CM Yogi

After being expelled from SP, MLA Pooja Pal met Chief Minister Yogi Adityanath. This meeting of h

Waqf Law: The Supreme Court will hear the Waqf law today too, The country's eyes are fixed on the interim order

The Supreme Court may stay some provisions of the Waqf Amendment Act, of 2025. The court said tha

Ram Navami: A Unique Temple Where Lord Rama Is Worshipped as a King—The 'Ayodhya of Bundelkhand' Boasts a Remarkable History.

In Orchha—the religious city of Bundelkhand—the festival of Ram Navami is being celeb

"My son needs justice," the family demands a CBI investigation into the Uttam Nagar murder case; 7 accused arrested so far.

A minor dispute during Holi celebrations in the Hastsal Rehabilitation Colony under the Uttam Nag

Iran Unrest: 'Iran halts executions of 800 people after Trump's warning', White House says it is monitoring the situation.

The Khamenei regime in Iran has employed every possible method of repression to crush the anti-go

Heavy rain warning in Gujarat-Maharashtra, red alert in Kerala, how long will the humid heat torment Delhi? Know the update

Heavy rains continue to wreak havoc across the country due to monsoon. People are facing problems

A major revelation in the voter list in Bengal, including the names of 4.7 million people who are no longer alive.

Bengal's voter list includes 4.7 million voters who are no longer alive. Of these, 3.4 million ha