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.'

 

Did you know?Explore Trending and Topic pages for more stories like this.

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

Flag hoisting ceremony: Ram chants echo through every street of Ayodhya, devotees immersed in joy; spiritual atmosphere at its peak

During the flag-hoisting ceremony at the Ram Temple in Ayodhya, the Rampath, Bhaktipath, Dharampa

'Both are eating into each other's business...' Director expresses regret over Toxic and Dhurandhar 2 clash

A major box office battle is set to unfold in March. Two major films will clash: Ranveer Singh's

Rajeev Shukla lashes out at Pakistan TV's fake video, BCCI gives a befitting reply to Pakistan TV's 'AI ploy.'

Whenever a match is played between India and Pakistan on the cricket field, a war of words often

Aniket Verma became famous as soon as he made his IPL debut, and did not get a chance in Ranji, but now he has stunned the big stars.

There is so much competition in cricket that the life of many players ends before reaching the do

Vaibhav Suryavanshi's Birthday: Vaibhav Can Now Make His International Debut; ICC Rules Won't Stand in the Way.

Vaibhav Suryavanshi unleashed his explosive prowess in the final of the 2026 Under-19 World Cup a

Major Blow for Rajasthan Royals Ahead of IPL 2026: England Star Player Could Be Ruled Out Due to Injury

The 2026 IPL season is set to commence on March 28, with the Rajasthan Royals kicking off their c

Big Change in Mutual Fund Trends: Investors Move from Equity SIPs to Gold and Debt Funds

India’s mutual fund industry witnessed a major shift in investor sentiment during April, as

NH-44 will open today: Work to remove concrete barricades with bulldozers continues, farmers' protest ends at Shambhu border

The Punjab government on Wednesday night removed the 13-month-long farmers' protest at Shambhu an

'Will not tolerate racial abuse': CM Pema Khandu lashes out at three women in Delhi

A neighboring couple allegedly used racial slurs and abusive language against three young women f

India Pakistan Tension: Turks exposed by Shehbaz's antics, revealed their evil face by thanking Erdogan

The truth cannot be hidden for long. No matter how much Turkey and China, which are facing allega

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