New Tax Bill: While presenting Budget 2025 last week, Finance Minister Nirmala Sitharaman had announced that the New Tax Bill would come next week and now there is a fresh update regarding it, according to which it may get approval in the cabinet meeting to be held on Friday.
While presenting the Budget 2025 of Modi 3.0, Finance Minister Nirmala Sitharaman had said that the New Tax Bill would be presented next week. Now a big update has come regarding this. It is being said quoting sources related to the matter that the new income tax bill may get approval in the Modi cabinet meeting to be held tomorrow on Friday.
It will be presented in the Lok Sabha on Monday!
While presenting the budget, Finance Minister Nirmala Sitharaman gave information about the new income tax bill. Now, according to the news that has come out from the sources of the ministry, it can be approved in the cabinet meeting to be held on Friday under the chairmanship of PM Narendra Modi and it can also be presented in the Lok Sabha on Monday.
There is no new tax in the new bill
It is worth noting that the government has already clarified that there will be no provision for imposing any new tax in the new Income Tax Bill. Rather, the tax structure will only be made rational and easy in the new bill. According to the information, there will be a provision for many new reforms in the existing Income Tax Act and there may also be a provision for reducing the punishment for many crimes.