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

Ranveer Allahbadia Controversy: Comedian Gaurav Kapoor took a dig at Ranveer, said- who apologized so quickly

After Ranveer Allahabadia's objectionable statement in Samay Raina's show 'India's Got Latent', h

Donald Trump: Trump strikes a deal with Venezuela; the US will buy 50 million barrels of oil, and the money will be deposited into US accounts.

US President Donald Trump said on Friday that Venezuela had offered Washington 50 million barrels

Crime Branch reveals Rohit Shetty firing case: Accused posed as a mechanic and worked for Bishnoi gang

The Mumbai Crime Branch has now made significant revelations regarding the shooting incident at t

Akshay Kumar's team revealed Paresh Rawal's secret, lakhs of rupees were given to him before the shoot of Hera Pheri 3

After Paresh Rawal's sudden exit from Hera Pheri 3, this matter has become quite heated. Every da

'The contribution of the Northeast in developing the country is important', Home Minister Amit Shah said- 'The government is committed to peace'

Union Home Minister Amit Shah on Tuesday said that the contribution of the Northeast region will

IND vs ENG: Will India's 89-year drought of victory in Manchester end? Will Gill be able to surpass Gavaskar and Dhoni?

The fourth Test of the five-match series between India and England will be played from July 23 at

'Sacrament is not attained by taking a dip in Sangam', Sri Sri Ravi Shankar gave a big statement; also said this on Hindu Marriage Act.

Art of Living organized a spiritual confluence in Jind's Sector 7-A on Tuesday. During this, reli

Who was the real Sapna in "O Romeo"? What was her connection to Hussain Ustra and Dawood? She ultimately met a painful death.

Shahid Kapoor and Tripti Dimri's film "O Romeo" has been trending on social media since its relea

AAP made a big change in the organization: Manish Sisodia made in-charge of Punjab, Saurabh Bhardwaj became Delhi president

Aam Aadmi Party's Political Affairs Committee (PAC) meeting was held. In this, a decision was tak

Bigg Boss 19: 'She is of Kunika's age ...', Tanya Mittal made such a comment on Malti Chahar's age

The controversial reality show Bigg Boss 19 (Bigg Boss 19) was already having a lot of drama, and

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