
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.
The monsoon has begun to withdraw from North India. For the past few days, several states, includ
The budget session of Chief Minister Naib Singh Saini government is starting from Friday, March 7
After the Waqf Amendment Bill was passed by a majority in the Lok Sabha, various discussions have
Actor Farhan Akhtar, who made a great patriotic film like Lakshya, will now be seen playing the r
Prime Minister Narendra Modi may visit America next month, i.e., in September. He may address the
A major accident occurred near Delhi's historic Red Fort on Monday evening. A car exploded near t
After Sunny Deol and Jaya Bachchan reprimanded the paps, Big B tweeted, saying, "No morals..."
Veteran actor Sunny Deol reprimanded paparazzi on social media for various reports about Dharmend
Karnataka Deputy CM DK Shivakumar has taken a dig at the BJP over the central government's decisi
These days, there is a severe heat wave across the country. North India is burning a lot, if we t
Chief Minister Yogi Adityanath announced several ambitious schemes during the discussion on the b