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

Gambhir-Shashi Tharoor: What did coach Gambhir say? Why did his post in response to Tharoor's tweet spark controversy?

India defeated New Zealand by 48 runs in the first T20 match played in Nagpur. However, more than

Babasaheb's 135th Birth Anniversary: ​​President, PM Modi, and Other Dignitaries Pay Tribute to Dr. Ambedkar—Who Said What?

On the occasion of the 135th birth anniversary of Babasaheb Dr. Bhimrao Ambedkar, President Droup

Emmy Awards 2025: Diljit Dosanjh shines on the red carpet, 'Amar Singh Chamkila' misses out on International Emmy Awards

The 2025 International Emmy Awards were held in New York City late on November 24th. The 53rd Int

Deepti Sharma: Deepti Sharma studied in this school in Agra, celebrated her victory... find out what the teachers said

Everyone is overjoyed with India's victory in the Women's ODI World Cup. Deepti received her prim

Amidst Tensions in the Strait of Hormuz, Government States: No Shortage of Petrol, Diesel, or LPG; Country Holds 60-Day Oil Reserves.

The Central Government clearly stated on Thursday that the supply of petroleum and LPG in the cou

Bihar Election 2025: 'Jungle Raj' resonates in Bihar elections, Grand Alliance focuses on these issues.

Now, as we move toward the euphoria of the results, the Bihar elections have rarely seen such a d

IND W vs SA W: South Africa halt India's winning streak, Laura Clarke's half-centuries, Richa's hard work goes in vain

South Africa defeated India by three wickets. In a thrilling Women's World Cup match played in Vi

Mumbai Hostage: Rohit Arya, who held 17 children hostage in a studio, dies after being shot in police retaliation.

Every day, the reality show Bigg Boss 19 sees a new drama unfold. Sometimes it's a fight over hou

"Samay Raina deserves to have his face blackened and be paraded on a donkey," fumes Mukesh Khanna at the comedian, adding—"His crooked nature remains as crooked as ever."

Following the ‘India’s Got Latent’ controversy, stand-up comedian Samay Raina h

Vijay Deverakonda: Vijay's ring increased in fans amidst news of engagement with Rashmika, an actor's video went viral

In February next year, Vijay Devarakonda and Rashmika Mandana will marry, this was confirmed by t

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