
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.
Bangladesh connection has been revealed in the violence that broke out in Nagpur, Maharashtra on
Greenland Row: 'Donald Trump... go to hell,' Danish MP lashes out at US aggression over Greenland.
US President Donald Trump's aggression regarding Greenland continues to escalate. Meanwhile, a st
Animal rights activist and BJP leader Maneka Gandhi has welcomed the Supreme Court's latest decis
Pakistan has signed a defense agreement with Saudi Arabia, which states that an attack against ei
The Cannes Film Festival 2025 has started with a bang. Actress Urvashi Rautela arrived on the fir
On one hand, initial trends in the counting of votes for 29 municipal corporations in Maharashtra
The Government of India has launched Operation Sindhu for the safe return of Indian citizens from
Pakistan is currently a temporary member of the United Nations Security Council, but this does no
Chhatrapati Shivaji Maharaj is revered in Maharashtra. Today is his birth anniversary. On this oc
'Brother has a cigarette in his hand'; Netizens react to Salman Khan's viral picture with MS Dhoni.
Salman Khan and MS Dhoni share a deep friendship. Dhoni, along with his family, attended Bhaijaan