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

Orry: The hotel owner made a big statement in the Orry liquor case, saying- 'To maintain the sanctity of Mata Vaishno Devi...'

Ori, who is popular on social media, recently visited Mata Vaishno Devi temple, where he was accu

T20 World Cup 2026: The World Cup heats up in the first two days! Title contenders avoid upsets, and the excitement reaches fever pitch.

The T20 World Cup 2026 kicked off with tremendous excitement. The tournament couldn't have asked

'I warn you, we will not give even an inch of land', Owaisi said on Waqf Amendment Bill;

AIMIM chief Asaduddin Owaisi said the Muslim community has rejected the bill in its current form.

Save Aravalli: A desert will form near Delhi in a few years; 31 hills of the Aravalli range have disappeared under the guise of legal and illegal mining.

Thirty-one hills of the Aravalli range, which are vital to the entire NCR region, including Delhi

What does India buy from and sell to Iran? Find out how much of an impact Trump's 25% extra tariff will have.

After the attack on Venezuela, Iran is now on Trump's radar. Trump has threatened to impose a 25

IND vs ENG: If Akash Deep does not play, who will take his place in the playing-11? Prasiddhi and Kamboj are among the contenders.

The Indian team has geared up for the fourth Test match against England starting in Manchester fr

Donald Trump: 'Everyone is happy...this is the 8th war I stopped', Trump again takes credit for the India-Pakistan ceasefire.

US President Donald Trump and 20 other top world leaders will attend a peace summit on the Gaza i

New Rules 1 July 2025: From railway fare to Aadhaar-PAN... these rules have changed across the country from today, it will affect your pocket

Today, from July 1, 2025, many big changes are being implemented in the country, which will direc

Maldives Foreign Minister arrives on an India tour, and will meet Jaishankar today; These issues can be discussed.

External Affairs Minister S Jaishankar and his Maldives counterpart Abdullah Khalil will hold a r

SIR Row: INDIA Block created ruckus outside Parliament over voter list, protested by tearing the list; Know who said what

The India Alliance of opposition parties staged a strong protest in the Parliament premises again