NEW DELHI: Govt will introduce a fresh version of the Income Tax bill on Monday, incorporating the recommendations of the Select Committee of Parliament. The new bill was approved by the cabinet on Friday as finance minister Nirmala Sitharaman withdrew earlier version of the I-T bill 2025, which was introduced in Lok Sabha in Feb…
The Goods and Services Tax (GST) Council is expected to meet soon to deliberate on tax rate rationalisation, simplification, and the future of the compensation cess, a government source said on Thursday.“There are three or four different aspects relating to making GST simpler. We will take up the issue of compensation cess, rate rationalisation and…
NEW DELHI: Lok Sabha Speaker Om Birla on Friday constituted a 31-member select committee to review the Income Tax Bill, with BJP’s Baijayant Panda leading the panel.Nishikant Dubey, Anil Baluni, Deepender Singh Hooda (Congress), and Supriya Sule are among the 31 members of the panel. The committee is required to submit its report by the…
KPMG in India did a survey in January 2025 to gather industry perspectives on the Income Tax Act review. (AI image) New Income Tax Bill: The government announced in July 2024 its intention to conduct a thorough review of the Income-tax Act, 1961. The primary objective is to transform the Income Tax Act 1961 into…