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

Russia-Ukraine Ceasefire: 'Putin-Zelensky will meet in two weeks', claims German Chancellor amid Trump's meeting

German Chancellor Friedrich Merz has made a big claim amid the important meeting between US Presi

PM Gifts Putin Bhagavad Gita: PM Modi gifted Putin a copy of the Shrimad Bhagavad Gita written in the Russian language and made an important statement.

Prime Minister Narendra Modi presented Russian President Vladimir Putin with a copy of the Bhagav

US Tariffs: Trump imposed a 25% additional tariff on India, a fine on buying Russian oil; a new decision effective from August 27

US President Donald Trump has imposed an additional 25 percent tariff on India. This tariff has b

Elvish Yadav: Trial court proceedings against Elvish Yadav stayed, notice issued to UP government and complainant

Giving a big relief to YouTuber Elvish Yadav, the Supreme Court has put a stay on the criminal pr

Andre Russell: 'Russell Power' will not be seen in international cricket. Played a stormy innings in the last match, hit 4 sixes

West Indies' legendary all-rounder Andre Russell has retired from international cricket. The 37-y

Khaleda Zia: Who was Khaleda Zia? After her husband's assassination, she fought against military rule and became Bangladesh's first female Prime Minister.

Khaleda Zia, Bangladesh's first female Prime Minister, passed away on Tuesday, December 30, 2025,

Apples, tourism, and now marble... know how friendship with Pakistan is costing Turkey heavily

Turkey, which is helping Pakistan by sending drones, is facing constant anger. Now Udaipur's marb

Why Did Iran Allow Indian Tankers to Pass Through the Strait of Hormuz? Jaishankar Reveals the Reason

War has erupted in the Middle East following a US-Israeli attack on Iran. Iran has taken control

Ban on Diljit Dosanjh lifted for Border 2, FWICE agreed to the producer's demand only on this condition

Diljit Dosanjh is making headlines for his upcoming film Border 2. Recently, his film Sardaar Ji

'Never accepted anyone's mediation in the matter of Pakistan', Jaishankar shows the mirror to Trump

Foreign Minister Dr. S Jaishankar showed the mirror to US President Donald Trump, who is claiming