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.'

 

Did you know?Explore Trending and Topic pages for more stories like this.

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.

1 Like 0 Dislike
Previous news Next news
Other news

Magh Mela 2025: Traffic arrangements in Varanasi, similar to the Mahakumbh, vehicles will be stopped for 12 hours each in five police station areas.

The Commissionerate Police has implemented traffic diversions in view of the Magh Mela and the re

T20 World Cup: Will the ICC lose 176 million viewers if Bangladesh withdraws? Why did Pakistan's Yusuf face the wrath of the fans?

Former Pakistan batsman Mohammad Yousuf made a statement on the social media platform X regarding

Janhvi Kapoor reacted strongly to the incident of a man being burned alive in Bangladesh, saying, "This hypocrisy will destroy us."

Recently, Dipu Chandra Das was burned alive in Bangladesh. This brutality has shaken everyone. No

Muthoot Finance Shares Crash 11%: Why India's Largest Gold Loan Company's Stock Tumbled Today

Shares of Muthoot Finance, India's largest gold loan company, plunged nearly 11% on August 3 afte

WhatsApp Username Update: Can Scammers Use Celebrity or Politician Names? Meta Reveals How Reserved Usernames Will Work

WhatsApp's upcoming username feature has triggered a fresh debate over online safety, identity th

IND vs PAK: BCCI announces will complain to ICC about Naqvi in ​​trophy dispute, Suryakumar says – the real trophy is my team

Despite winning the Asia Cup 2025 final, the Indian team was denied the trophy after captain Sury

You won't be able to book train tickets without linking your Aadhaar card until this time; the conditions will apply from the opening day. Understand the complete rules?

Indian Railways has implemented new rules to make online ticket booking more transparent. From Ja

Bigg Boss 19: Neelam-Shahbaz discussed Mridul Tiwari's changed behaviour, said- I heard abuses from his mouth and...

Bigg Boss 19 is getting very exciting this week. Recently, the quarrel between Kunika and Tanya c

'If there is no temple by the user, then why should there be Waqf by user', SC lawyer Vishnu Shankar Jain raised questions on Waqf properties

Supreme Court lawyer Vishnu Shankar Jain has questioned the legitimacy of the concept of properti

Where were Muskan and Sahil on the day of Saurabh's murder? Mobile became a necessary evidence; sent to forensic lab for data recovery.

The mobiles of Muskan and Sahil, accused in the Saurabh murder case, are being made necessary evi

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash