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

'The one I love the most...', Harshit Rana, who was ruled out of the T20 World Cup, undergoes surgery; the star cricketer gives a major health update.

Indian fast bowler Harshit Rana has undergone knee surgery, crushing his dream of playing in the

PM Modi will flag off the first sleeper Vande Bharat train today; the 958 km Howrah-Guwahati distance will now be covered in just 14 hours.

Prime Minister Narendra Modi will flag off India's first Vande Bharat sleeper train today (Januar

Harish Rana Euthanasia: Harish remains the topic of discussion throughout the day; family members do not answer calls—here is what transpired on Day 1 of the euthanasia process.

Even after Harish was transferred to AIIMS from the Raj Empire Society in Raj Nagar Extension, Gh

Bigg Boss 19: The issue is resolved! You don't have to wait till October for Bigg Boss, know in which month the show will be on air?

After 18 successful seasons, the 19th season of Salman Khan's controversial show Bigg Boss was in

Avengers Doomsday Teaser: The real action begins now! X-Men enter the fray in Avengers: Doomsday, an explosive teaser released.

When talking about the most talked-about films in Hollywood cinema, Avengers: Doomsday would defi

What did Ajit Pawar say on his last phone call before dying in the plane crash? The NCP has released the audio.

The Nationalist Congress Party (NCP) has released an audio recording of Ajit Pawar's last phone c

PAK boycott: India did not even shake hands, closed the dressing room door in front of the waiting players

India registered its second win by defeating Pakistan by seven wickets in the Group A match of th

Three actors will be seen in Sourav Ganguly's biopic, along with Rajkummar Rao.

For the past few days, there has been a lot of buzz surrounding the biopic of former Indian capta

Students and police clashed during Sonam Wangchuk's protest in Leh; the BJP office and a CRPF vehicle were set on fire.

A protest is underway in Leh, demanding full statehood for the Union Territory of Ladakh. Violent

Firing again at Kapil Sharma's cafe in Canada, Goldy Dhillon, associated with the Lawrence Bishnoi gang, took responsibility

Famous comedian Kapil Sharma's Caps Cafe in Surrey, Canada, was once again fired upon on Thursday