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.'

 

Did you know?Explore Trending and Topic pages for more stories like this.

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.

1 Like 0 Dislike
Previous news Next news
Other news

Trump Tariff: 'This is a big mistake, talk to Modi ji soon...', why did Nikki Haley give this advice to Trump?

US President Donald Trump is surrounded in his own country over tariffs. His own party's Republic

X down again: Users faced issues ranging from login to the feed; problem occurred for the second time in 24 hours.

Social media platform X, formerly known as Twitter and owned by Elon Musk, experienced another ma

BJP called Rahul 'Mir Jafar' and Congress called Jaishankar 'Jaichand', a lot of politics is going on over Pahalgam attack

The war of words between the BJP and the Congress over the statements of their respective leaders

The provision of being a Muslim for 5 years was rejected, some sections were banned; the Supreme decision on Waqf law.

The Supreme Court on Monday pronounced its verdict on a petition challenging the validity of the

Elon Musk: After the conflict with Trump, Musk suffered huge losses, lost $380 billion

Elon Musk, who was once Trump's biggest supporter, has now become one of his biggest critics. Mus

Bigg Boss 19: Indian cricketer's ex-wife will be the guest of Bigg Boss, will reveal many secrets after divorce

Bigg Boss is such a TV reality show whose TRP is down or up, the audience watches it with great i

Nagpur burns in the fire of violence in Aurangzeb dispute: Houses, vehicles, and shops destroyed... 65 rioters arrested.

Nagpur violence The dispute over Aurangzeb's tomb took a violent turn on Monday night. Nagpur was

LPG Crisis: Strict Ban on Sales from Warehouses in Delhi; Government Offers Major Relief to Migrants and Tenants.

The Delhi government has provided significant relief to the general public by increasing the avai

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

PM Modi: 'Peace is the primary prerequisite for development in the state' — PM Modi speaks during an interaction with party workers in Assam.

On Monday, Prime Minister Narendra Modi interacted with party workers from Assam via the NaMo App

Sign up to write
Sign up now if you have flare of writing..
Login   |   Register
Follow Us
Indyaspeak @ Facebook Indyaspeak @ Twitter Indyaspeak @ Pinterest RSS



Play Free Quiz and Win Cash