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

BMC Polls: Thackeray brothers react after the defeat; MNS chief says - the struggle is for Maharashtra and Marathi identity.

Maharashtra Navnirman Sena (MNS) chief Raj Thackeray reiterated his commitment to the Marathi com

Who is Rebel Kid Apoorva Mukhija? Commenting on 'mother' cost her heavily, she has a connection with Hrithik Roshan's girlfriend!

India's Got Latent, which has been counted among the most popular shows, is currently surrounded

Rakesh Bedi reacted to the praise Akshay Khanna received for the movie 'Dhurandhar', saying, "He has always been in the game."

Akshaye Khanna played the role of the dacoit Rehman in the movie Dhurandhar. As soon as the film

Virat Kohli celebrated his victory with his wife, Anushka Sharma, after scoring a century, with beautiful pictures that won hearts.

Bollywood actress Anushka Sharma and Indian cricketer Virat Kohli are considered one of the count

Pooja Pal MLA: Which party will MLA Pooja Pal join? There was a stir in the political corridors after meeting CM Yogi

After being expelled from SP, MLA Pooja Pal met Chief Minister Yogi Adityanath. This meeting of h

'I am a big fan of India...', good news will be received soon on India-US trade deal; Trump's minister claims

Talks have been going on between India and America for a long time on a trade deal. However, now

Donald Trump: 'This will not affect foreign language films,' says PGOI president on Trump's decision

US President Donald Trump recently announced a 100% tariff on films produced outside the U.S. In

Hindi Row: 'Hindi was the third compulsory language even during the Congress period, DMK never made Tamil...'; BJP on three language controversy

The language dispute in Tamil Nadu is deepening. Now BJP's Tamil Nadu unit president K Annamalai

PM Modi: PM Modi expressed concern over reports of the Russian President's residence being targeted and said this...

Prime Minister Narendra Modi has expressed concern over reports of an attack on the Russian Presi

Akshay Kumar has taken responsibility for the auto driver's treatment, and the Mumbai Police have arrested the person who caused the accident.

A car in Akshay Kumar's convoy was involved in an accident on the night of January 19th in Mumbai