
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.
The government will deal strictly with any form of misleading information, rumors, or malicious p
Prime Minister Narendra Modi spoke over the phone on Thursday with leaders from Qatar, France, Jo
On Tuesday, the Congress party accused Prime Minister Narendra Modi and the Central Government of
Hyderabad and Cyberabad police have issued a guideline regarding Holi. According to the police no
Tahawwur Rana, accused of the 2008 Mumbai terror attacks, has been extradited from the US to Indi
Indian team's star batsman Shubman Gill has been going through a rough patch lately. Gill was una
Rashtriya Janata Dal (RJD) will file a petition today to challenge the new Waqf law in the Suprem
France vs Spain FIFA World Cup Semi-Final: Mbappé Faces Yamal as Heavyweights Clash After 20 Years
Football fans are set for a blockbuster showdown as France and Spain lock horns in the first semi
Union Home Minister Amit Shah on Friday condemned the incident of allegedly using abusive words a
The Special Investigation Team (SIT) arrived at the Noida Authority's Sector 6 office today to in