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.
India has to face New Zealand in its last group match. This match will be played in Dubai on Marc
Prime Minister Narendra Modi departed for South Africa today. Departing from New Delhi for Johann
Indian women's cricket team vice-captain Smriti Mandhana made her first public appearance since h
On Thursday morning at around 11.30 am, a female tennis player was shot dead by her father with t
Shilpa Shetty has once again found herself embroiled in a major controversy. While reports surfac
After Raja's body was found in Shillong on June 2, his family never expressed any doubt about Son
'China has occupied Indian land, how do you know?'; Supreme Court's harsh comment on Rahul Gandhi
The Supreme Court has strongly reprimanded the Leader of the Opposition, Rahul Gandhi, for commen
Actor Vijay's film 'Jana Nayagan' is embroiled in controversy regarding its release. The matter r
Bollywood's most popular comedy franchise 'Housefull' is once again ready to make the audience la
The Supreme Court made strong remarks on Tuesday (January 13) during a crucial hearing on the iss
