
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.
Punjab Police has arrested another Pakistani spy in the second major action in the last 24 hours.
A 32-year-old iron footbridge built on the Indrayani River collapsed on Sunday afternoon in the M
Chaos at singer Babbu Maan's show, people threw chairs and bottles; police resorted to lathi-charge
During Babbu Maan's live show which was going on after the Kabaddi Cup held in Baddowal area on S
Bengaluru Stampede Case: Who is Nikhil Sosale? Whom police arrested in Bengaluru stampede case
The Bengaluru police arrested Nikhil Sosale, marketing head at Diageo India for Royal Challengers
Today marks the 17th anniversary of the November 2008 Mumbai terrorist attacks. A program was hel
Prime Minister Narendra Modi, who reached the site of the Air India plane crash, took information
Amid questions being raised on the independence of the judiciary in the case of Delhi High Court
A petition has been filed in the Supreme Court challenging the order to put QR codes on the eater
A major accident occurred near Delhi's historic Red Fort on Monday evening. A car exploded near t
Given the verdict in the Ankita Bhandari murder case in Rishikesh, Uttarakhand, the district poli