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

Magh Mela 2025: Traffic arrangements in Varanasi, similar to the Mahakumbh, vehicles will be stopped for 12 hours each in five police station areas.

The Commissionerate Police has implemented traffic diversions in view of the Magh Mela and the re

West Bengal: Suvendu said- If there was no Nandigram movement, Mamata would not have become CM, challenged her to contest from Bhawanipur

Senior BJP leader Suvendu Adhikari launched a scathing attack on West Bengal Chief Minister Mamat

Vadodara Car Accident: 'He drove the car for fun...', the person who survived the car accident told the story of the night of the accident

A person injured in a horrific car accident in Vadodara has now said that the accused was driving

RCB vs LSG: Virat Kohli got angry after seeing Digvesh Rathi's action... started throwing bottles in the dressing room

Jitesh Sharma's brilliant captaincy innings led Royal Challengers Bangalore (RCB) to a 6-wicket w

'We are different from Hindus', Pak Army Chief spews venom against India while issuing threats on Kashmir

Pakistan's army chief General Syed Asim Munir has made a sharp statement against India and Hindus

Women's World Cup: India and South Africa have never clashed in the World Cup final. know who has the upper hand in the tournament?

The Women's ODI World Cup has now reached its final stage, and the two teams that will face off f

Donald Trump: 'Only a fool would do this', Trump's shocking reply on receiving a Boeing 747 plane as a gift from Qatar

Donald Trump is on a tour of West Asia these days. Trump will also visit Qatar during his tour. B

Dhurandhar 2: 'Dhurandhar 2' continues to rake in earnings even on Day 15—how far behind is it from 'Pushpa 2'? Check out the worldwide collection.

‘Dhurandhar 2’ has set several records within just 15 days. It has surpassed some of

Virat-Anushka: This is how Anushka handled the emotional Kohli, celebrated happiness with Lady Luck like this, see photos

Royal Challengers Bangalore has won the IPL 2025 title. In the final, RCB defeated Punjab Kings b

Gunfire reported at Rohit Shetty's residence; Mumbai Police arrest four suspects, the main conspirator identified.

Around 12:45 AM on January 31st, indiscriminate firing took place at the Juhu residence of Bollyw

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