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.

1 Like 0 Dislike
Previous news Next news
Other news

Bharat Bandh: Banks, transport, and offices... Trade unions strike across the country today, what is closed and what is open?

Trade unions and farmers' organizations across the country have called for a nationwide strike to

Yamuna Water Level: The threat of flood in Delhi is averted, but now people are facing a big problem

The danger of floods has been averted due to the decrease in the water level of the Yamuna in Del

Severe cold will prevail in Delhi, UP and Bihar, IMD has issued a rain alert in 5 states.

The month of November is almost over. Following snowfall in the hilly states, winter has begun to

Operation Sindoor: Many Bollywood celebs including Amitabh Bachchan, Anupam Kher, and Ritesh Deshmukh gave a strong salute to the surgical strike

On 7 May 2025, India carried out precise missile attacks on terrorist bases in Pakistan and PoK u

IND vs ENG Playing-11: Bumrah is certain to be out of the fifth test; Who will enter, and will Kuldeep get a chance?

The fifth and final Test of the series between India and England will start on Thursday, July 31.

Like coach Dravid, will Sanju Samson also leave RR before IPL 2026? Inside news came out

Indian team's star batsman and long-time Rajasthan Royals player Sanju Samson's relationship with

Thama Teaser: Teaser of Maddock's next film 'Thama' is out, this time the audience will see a love story with horror

Maddock Films' horror universe films 'Stree' and 'Stree 2' have been huge hits. Now the next film

'Babita ji' reacted for the first time on the rumours of leaving TMKOC, shared the video, and told the truth

It has been 17 years since Taarak Mehta Ka Ooltah Chashmah, but even today this comedy show is nu

Sonu Sood was shocked by the Ghaziabad triple suicide case and said, "I had raised my voice about this before."

The triple suicide case in Ghaziabad's 'Bharat City' society has shaken everyone. Actor Sonu Sood

The weather department issued a yellow alert in Delhi, clouds will rain in UP and Bihar too; When will the Northeast get relief?

The weather is changing rapidly across the country. Monsoon has arrived in many states, while flo

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