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The central government’s proposals to reform the Goods and Services Tax (GST) system are bold and timely. They stand to benefit the middle class and the business community, as the government claims. Shifting 99% of the items in the 12% slab to a 5% tax rate, and 90% of the items in the 28% slab…
Read More “Required reforms: On reforms to the GST system ” »
Finance Minister Nirmala Sitharaman speaks in the Lok Sabha on August 8, 2025. Photo: Sansad TV via PTI Amid persistent disruptions in the Lok Sabha by Opposition members demanding a discussion on the special intensive revision (SIR) of electoral rolls in Bihar, Finance Minister Nirmala Sitharaman on Friday withdrew the Income Tax Bill, 2025 as…
Read More “Income Tax Bill withdrawn; updated version likely in Lok Sabha on August 11, 2025” »
Baijayant Jay Panda. File | Photo Credit: The Hindu The select committee of the Lok Sabha, which will examine the Income-Tax Bill, 2025, was constituted on Friday (February 14, 2025) with BJP MP Baijayant Jay Panda appointed as chairman of the panel. The committee will have 31 MPs, including 17 from the ruling National Democratic…
The ongoing Budget Session will conclude on April 4 New Delhi: Lok Sabha Speaker Om Birla on Friday constituted a 31-member Select Committee of the lower house to examine the Income Tax Bill. To be headed by BJP’s Baijayant Panda, the panel is mandated to submit its report by the first day of the next…
Read More “31-Member Panel Set Up To Examine Income Tax Bill, Will Be Headed By BJP MP” »
Union Finance Minister Nirmala Sitharaman, Reserve Bank of India Governor Sanjay Malhotra and Directors during the 613th Meeting of Central Board of Directors (CBD) of the RBI in New Delhi on February 8, 2025. | Photo Credit: PTI Finance Minister Nirmala Sitharaman on Saturday (February 8, 2025) said she is likely to introduce the new…
Read More “Hope to introduce new income tax bill in Lok Sabha next week: Nirmala Sitharaman” »
Finance Minister Nirmala Sitharaman had announced in Budget 2025 that the new tax bill will be introduced in the ongoing session of Parliament. | Photo Credit: Getty Images/iStockphoto The Union Cabinet on Friday (February 7, 2025) approved the new income tax bill, which will replace the six decades old I-T Act, sources said. The new…
Govt. proposes nil tax on income up to ₹12 lakh per annum under New Tax Regime, Finance Minister Nirmala Sitharaman said in her Union Budget 2025 speech in the Parliament, in New Delhi on February 1. 2025.. (Representational image) In the most anticipated announcement this Union Budget 2025, Finance Minister Nirmala Sitharaman announced there would…