Anticipated Introduction of Revised Income Tax Bill in Lok Sabha

Parliamentary Affairs Minister Kiren Rijiju announced the introduction of a new Income Tax Bill by Finance Minister Nirmala Sitharaman in the Lok Sabha. The revised bill incorporates 285 suggestions from a Select Committee, addressing apprehensions about ignoring previous work and facilitating amendment approval efficiently.

On Saturday, Parliamentary Affairs Minister Kiren Rijiju confirmed that Finance Minister Nirmala Sitharaman is set to introduce a newly revised Income Tax Bill in the Lok Sabha. This decision follows the endorsement of extensive amendments by a Select Committee, quelling concerns about the prior withdrawal of the bill.

In response to media speculation, Rijiju clarified that the introduction of a new bill was procedural due to the substantial amendments proposed. The revisions include 285 suggestions from the Select Committee, currently helmed by BJP member Baijayant Panda, which have been officially adopted by the government.

Rijiju assured that the reintroduction aims to streamline parliamentary processing, ensuring the incorporated changes are publicly acknowledged and acted upon. This efficient method negates the need for individual amendment approvals, maintaining continuity in legislative efforts.

(With inputs from agencies.)