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

TVK vs DMK: 'No alliance, Tamil Nadu elections will be between DMK and TVK', roars actor-turned-politician Vijay

Actor-turned-politician Vijay has started entering Tamil Nadu politics. His party, Tamilaga Vetri

PPF Rules: Want substantial returns from your PPF? Then avoid making this small mistake at all costs—here’s how to safeguard your entire month's earnings.

If you invest in the Public Provident Fund (PPF) for safe returns and tax savings, there is one c

U19 Asia Cup 2025 Final: Not just Vaibhav Suryavanshi, these 5 other Indian players will also shatter Pakistan's dreams and become their nemesis in the final.

The Indian Under-19 cricket team and the Pakistan Under-19 cricket team will clash in the final o

Why Did Iran Allow Indian Tankers to Pass Through the Strait of Hormuz? Jaishankar Reveals the Reason

War has erupted in the Middle East following a US-Israeli attack on Iran. Iran has taken control

T20 World Cup 2026: Will Bangladesh participate or boycott? The ICC has given a deadline until January 21st.

The conflict over cricket between India and Bangladesh is escalating ahead of the T20 World Cup 2

Central government in action to curb 'abuse' of Grok AI; contacted Elon Musk's X.

AI chatbot Grok appeared on the social media platform X of the world's richest man Elon Musk. But

Waqf Bill: The effect of the bill will be seen from the Northeast to tribal-dominated states; claims on protected monuments will end

Under pressure from allies, the BJP made some compromises in the provisions of the Waqf Amendment

Indigo Crisis: Want a refund for flight delays or cancellations? Here's how to claim it; step-by-step process

India's largest airline, IndiGo, recently cancelled hundreds of flights at major airports includi

India-Pakistan Ceasefire: Preparations to surround Pakistan in UN committee meeting, India will present evidence of the Pahalgam attack.

Pakistan is currently a temporary member of the United Nations Security Council, but this does no

KKR vs SRH: Hyderabad failed to take revenge for the final defeat from Kolkata, registering the biggest defeat.

On the strength of deadly bowling by Vaibhav Arora and Varun Chakraborty, Kolkata Knight Riders (

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