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

Bigg Boss 19: 'Talking about wearing clothes', Malti Chahar's lewd comment on Nehal, enraged Kamya Punjabi and Gauahar Khan

Malti Chahar, the sister of Indian cricketer Deepak Chahar, is in the news these days. She joined

IND vs ENG: 'There is no need to tamper with Test cricket..', Shubman said - the only format that gives you a second chance

Indian captain Shubman Gill has advised the ICC not to tamper with Test cricket. The Indian team

From which angle was the investigation done in Manisha's death case, and what evidence was found? Haryana Police will reveal all the secrets in front of the CBI

After the death and last rites of play school teacher Manisha, there is a sad atmosphere in the h

One Nation One Election: 'One country one election is not undemocratic', Law Ministry listed the benefits of simultaneous elections to the joint committee

The Union Law Ministry has praised the 'One Nation, One Election' Bill. The ministry has told the

Waqf Amendment Bill: AIMPLB makes a big announcement against the Waqf Amendment Bill, announces nationwide 'movement'

The All India Muslim Personal Law Board on Sunday announced a nationwide agitation against the pr

Waqf Act: 'The court cannot interfere in the law made by the Parliament, unless...', why did the CJI say this during the hearing on the Waqf Act?

The Waqf Amendment Act 2025 is to be heard in the Supreme Court today. The constitutional validit

Lionel Messi-Sunil Chhetri: When Messi met Sunil Chhetri! They shook hands and exchanged congratulations; Messi also gifted him an Argentina jersey.

The day at Mumbai's historic Wankhede Stadium was not just an event, but a confluence of emotions

Montha's impact! Rain will fall today in these states, including Uttar Pradesh and Bihar. The IMD also provided an update on the cold.

Winter has arrived in North India. It seems like it's time to take out your warm clothes. Cyclone

The person who fired at Salman Khan's house did not get bail. The special court rejected the plea.

Fans are very crazy about Salman Khan. Bhaijaan's fans pray for the actor's safety every moment.

Prabhas: Prabhas came forward to help the famous comedian admitted to the ICU, also appealed to other Tollywood stars

'Bahubali' fame actor Prabhas has done something that is being appreciated. Prabhas has come forw