{"id":236825,"date":"2025-02-11T23:19:42","date_gmt":"2025-02-11T23:19:42","guid":{"rendered":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/02\/11\/new-income-tax-bill-likely-to-be-introduced-in-lok-sabha-on-thursday\/"},"modified":"2025-02-11T23:19:42","modified_gmt":"2025-02-11T23:19:42","slug":"new-income-tax-bill-likely-to-be-introduced-in-lok-sabha-on-thursday","status":"publish","type":"post","link":"https:\/\/news.talkwithrattan.com\/index.php\/2025\/02\/11\/new-income-tax-bill-likely-to-be-introduced-in-lok-sabha-on-thursday\/","title":{"rendered":"New Income Tax bill likely to be introduced in Lok Sabha on Thursday"},"content":{"rendered":"<div style=\"text-align:center\"><img decoding=\"async\" src=\"https:\/\/i1.wp.com\/img.etimg.com\/photo\/msid-118152399,imgsize-65338.cms?ssl=1\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"New Income Tax bill likely to be introduced in Lok Sabha on Thursday\" title=\"New Income Tax bill likely to be introduced in Lok Sabha on Thursday\" \/><\/div>\n<div data-brcount=\"17\">New Delhi: The <a ref=\"dofollow\" data-ga-onclick=\"Inarticle articleshow link click#News#href\" href=\"https:\/\/economictimes.indiatimes.com\/topic\/new-income-tax-bill\" target=\"_blank\" rel=\"noopener\">new Income Tax Bill<\/a> will be introduced in the <a ref=\"dofollow\" data-ga-onclick=\"Inarticle articleshow link click#News#href\" href=\"https:\/\/economictimes.indiatimes.com\/topic\/lok-sabha\" target=\"_blank\" rel=\"noopener\">Lok Sabha<\/a> on Thursday, sources said.<\/p>\n<p><style><![CDATA[\n    \t    #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;}\n    \t    .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px}\n    \t    #sr_widget.onDemand .sr_desc{margin:0 auto 0;}\n    \t    #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;}\n    \t    #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important}\n    \t    #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%}\n    \t    #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}\n    \t]]><\/style>\n<p><!--\/article_liveblog.cms?msid=105115637&pos=toppotime:2-->They said the government is keen on detailed consultations on the bill and it is likely to be sent to a <a ref=\"dofollow\" data-ga-onclick=\"Inarticle articleshow link click#News#href\" href=\"https:\/\/economictimes.indiatimes.com\/topic\/select-committee\" target=\"_blank\" rel=\"noopener\">Select Committee<\/a> for further examination.<\/p>\n<p> The Union Cabinet last week cleared the new Income Tax bill. <\/p>\n<p><a ref=\"dofollow\" data-ga-onclick=\"Inarticle articleshow link click#News#href\" href=\"https:\/\/economictimes.indiatimes.com\/topic\/sitharaman\" target=\"_blank\" rel=\"noopener\">Sitharaman<\/a> had indicated earlier that the bill will be sent to a parliamentary committee for scrutiny. &#8220;The process is the committee gives its recommendations, it comes back, and then the government, through the Cabinet, takes a call whether these amendments are to be taken in,&#8221; she had said.<\/p>\n<p>In July 2024 Budget, the government had proposed a comprehensive review of the Income-tax Act, 1961. The purpose was to make the Act concise and lucid and reduce disputes and litigation.<\/p>\n<p><!--\/include_growfast.cms?pagename=article&skipcss=1potime:1--><br \/>Sitharaman had said in her budget speech on February 1 that the bill will be soon introduced in Parliament. &#8220;Over the past 10 years, our Government has implemented several reforms for convenience of tax payers, such as (1) <a ref=\"dofollow\" data-ga-onclick=\"Inarticle articleshow link click#News#href\" href=\"https:\/\/economictimes.indiatimes.com\/topic\/faceless-assessment\" target=\"_blank\" rel=\"noopener\">faceless assessment<\/a>, (2) taxpayers charter, (3) faster returns, (4) almost 99 per cent returns being on selfassessment, and (5) <a ref=\"dofollow\" data-ga-onclick=\"Inarticle articleshow link click#News#href\" href=\"https:\/\/economictimes.indiatimes.com\/topic\/vivad-se-vishwas-scheme\" target=\"_blank\" rel=\"noopener\">Vivad se Vishwas scheme<\/a>. Continuing these efforts,<\/p>\n<p>I reaffirm the commitment of the tax department to &#8220;trust first, scrutinize later. I also propose to introduce the new income-tax bill next week,&#8221; she said in the budget speech.<\/p>\n<style><![CDATA[\n    \t    #sr_widget.onDemand p, #stock_pro.onDemand p{font-size: 14px;line-height: 1.28;}\n    \t    .onDemand .live_stock{left:17px;padding:1px 3px 1px 5px;font-size:12px;font-weight:600;line-height:18px;top:9px}\n    \t    #sr_widget.onDemand .sr_desc{margin:0 auto 0;}\n    \t    #sr_widget.onDemand .sr_desc{color: #024d99;margin-top:10px;}\n    \t    #sr_widget.onDemand .crypto .live_stock .lb-icon{8px 6px 5px 3px !important}\n    \t    #sr_widget.crypto.onDemand a.text{border-bottom:1px solid #ccc;padding-bottom:5px;display:block;width:100%}\n    \t    #sr_widget.onDemand .sr_desc .text p, #stock_pro.onDemand .sr_desc .text p{font-size:12px;font-weight:400;}\n    \t]]><\/style>\n<p><!--\/article_liveblog.cms?msid=105115637&pos=botpotime:1--><\/p>\n<\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/economictimes.indiatimes.com\/news\/india\/new-income-tax-bill-likely-to-be-introduced-in-lok-sabha-on-thursday\/articleshow\/118152399.cms\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi: The new Income Tax Bill will be introduced in the Lok Sabha on Thursday, sources said. They said the government is keen on detailed consultations on the bill and it is likely to be sent to a Select Committee for further examination. The Union Cabinet last week cleared the new Income Tax bill. [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":236826,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":"","fifu_image_url":"https:\/\/img.etimg.com\/photo\/msid-118152399,imgsize-65338.cms","fifu_image_alt":"","footnotes":""},"categories":[602],"tags":[229,115279,7402,184362,6562,1995,2214,172037,4250,1996,184716,4254,301,184717,180644,9086,154492],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/236825"}],"collection":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/comments?post=236825"}],"version-history":[{"count":1,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/236825\/revisions"}],"predecessor-version":[{"id":236827,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/posts\/236825\/revisions\/236827"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media\/236826"}],"wp:attachment":[{"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/media?parent=236825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/categories?post=236825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.talkwithrattan.com\/index.php\/wp-json\/wp\/v2\/tags?post=236825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}