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

CM Yogi was overjoyed with the success of Maha Kumbh, and said- 66.21 crore devotees took a dip; a world record was made.

The divine, grand, and cultural gathering Maha Kumbh, being organized on the land of the holy lan

Amit Shah: 'Rahul Gandhi should apologize for abusing PM Modi and his mother', Amit Shah lashed out at Congress

Union Home Minister Amit Shah on Friday condemned the incident of allegedly using abusive words a

Jerusalem and Tel Aviv were shaken by the sound of explosions, Iran again attacked Israel after Trump's ceasefire announcement; 7 killed.

The Israeli army on Tuesday warned its citizens that missiles have been fired from Iran (Israel-I

'Governor has no veto power, keeping bills pending is illegal', SC's important comment on Tamil Nadu Government vs Governor case

The Supreme Court on Tuesday made an important comment on the dispute between the Tamil Nadu gove

Udaipur Files: Producers of 'Udaipur Files' met the Information and Broadcasting Minister, and discussed the ongoing controversy over the film

Amidst the ongoing controversy over the film 'Udaipur Files', the film's producer Amit Jani met I

Virat-Anushka: Virat-Anushka returned to Mumbai after Bengaluru accident, angry users said - it doesn't matter to them

Cricketer Virat Kohli has won his first IPL trophy. He is being discussed everywhere. When Virat

Akshay Kumar: Akshay Kumar made an emotional appeal to fans, know what the 'Khiladi' said about 'Kesari 2'

Akshay Kumar, R Madhavan, and Ananya Panday's much-awaited film 'Kesari Chapter 2: The Untold Sto

On his birthday, Samay Raina took a big step and apologized on social media for his actions.

Stand-up comedian Samay Raina is celebrating his birthday today. On this occasion, he apologized

Rinku-Priya Engagement: Rinku Singh and Priya Saroj danced fiercely after the engagement, and big names gathered at the ceremony;

Indian cricketer Rinku Singh has tied the knot. On Sunday, the star player got engaged to Samajwa

'Supreme' hearing on the arrest of Sonam Wangchuk today, wife filed a petition

Sonam Wangchuk was arrested by the government after the violence in Leh. Sonam Wangchuk is curren