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

Udaipur Files: Challenge to the approval of release of 'Udaipur Files' received from the Center, Delhi HC will hear on July 30

Bollywood film 'Udaipur Files' is still stuck in legal complications. The Center has permitted th

IND vs SA: Sunil Gavaskar sends a strong message to Gambhir-Agarkar in the name of Karun Nair and Sarfaraz Khan

The Indian team, true to its reputation, performed poorly in the Kolkata Test against South Afric

Pahalgam Attack: When Eshanya pleaded with the terrorists, they said- we will see you later, Shubham's sister reveals- the horse owners...

There is anger among the family members after the killing of Kanpur resident Shubham Dwivedi in t

Mumbai Hostage: Rohit Arya, who held 17 children hostage in a studio, dies after being shot in police retaliation.

Every day, the reality show Bigg Boss 19 sees a new drama unfold. Sometimes it's a fight over hou

'Love for us, marriage with them?': Kharge's jibe at Deve Gowda sparks laughter in the Rajya Sabha; even PM Modi smiles.

During the farewell ceremony for retiring MPs in the Rajya Sabha, Leader of the Opposition Mallik

Republic Day 2026: This time, the invitation cards for the 'At Home' ceremony guests are very special, and they will receive a beautiful gift.

The nation is all set to celebrate its 77th Republic Day. As every year, a grand parade and speci

'Everyone was jealous of Dhurandhar'... Siddharth Anand lashes out at Zakir Khan's comment, calls the comedian a 'duffer', and gives him a stern dressing-down.

Everyone is reveling in the success of Ranveer Singh's film, Dhurandhar: The Revenge. From the So

PM Modi holds bilateral talks with several leaders on sidelines of AI Summit, focusing on trade and technology cooperation

On the sidelines of the AI ​​Impact Summit, Prime Minister Narendra Modi held bilateral talks

Ram Gopal Varma became a fan of Akshaye Khanna in 'Dhurandhar', and praised him highly for his role as the dacoit Rehman; here's what he said.

Ranveer Singh and Akshaye Khanna's starrer 'Dhurandhar' is continuously receiving praise. The fil

'India is not neutral, but for peace': What else did PM Modi say in his bilateral talks with Putin?

Russian President Vladimir Putin is on the second day of his visit to India today. President Puti