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

Marathi Row: 'If a poor person speaks Hindi, he is beaten up, no one cares about Javed Akhtar and Aamir Khan...', Nitesh Rane on Marathi controversy

The case of assault on a food stall owner in Mumbai for not speaking Marathi has heated the polit

Bharat Bandh 2025: Bharat Bandh today... What will be the impact on railway, bus, bank, and postal services? Understand everything in 10 points.

A joint platform of 10 central trade unions across the country has announced a 'Bharat Bandh' tod

Major action in the singer Zubeen Garg case, manager Siddharth Sharma, and festival organiser arrested

Singer Zubeen Garg's manager, Siddharth Sharma, and Shyamkanu Mahant, chief organizer of the Nort

Mamata Banerjee: 'A blot on womanhood...', what did the BJP say on Mamata Banerjee's statement in the Durgapur MBBS student rape case?

The rape of a medical student in Durgapur, West Bengal, is constantly in the news. Yesterday, Chi

'An unprecedented incident could have occurred in Parliament with PM Modi present,' says Speaker Om Birla in a major statement.

The fact that Prime Minister Narendra Modi was unable to deliver his speech during the debate on

Nine schools in Delhi received bomb threats; security agencies are on high alert; bomb disposal squads are at the scene.

Panic gripped the national capital Delhi on Monday morning when nine prominent schools in differe

They Call Him OG: From tears to fireworks outside the theater, fans celebrated seeing OG;

Power Star Pawan Kalyan's new film, "They Call Him OG," was released in theaters today. Fans were

KKR vs LSG : In the match between KKR and Lucknow, there will be a contest between Narine and Digvesh, eyes will be on Pant

The IPL 2025 match will be played between defending champions Kolkata Knight Riders (KKR) and Luc

IPL 2025: Ashwin expressed displeasure over Rishabh Pant's decision, justified Digvesh Rathi's runout appeal

The last league match of IPL 2025 was full of excitement. Royal Challengers Bangalore (RCB) defea

Dehradun Cloudburst: Cloudburst in Sahastradhara causes devastation, Shivling submerged, one labourer dies in Mussoorie...

Continuous rain is wreaking havoc in Uttarakhand. A late-night cloudburst in Dehradun's Sahastrad