New Income Tax Bill To Be Introduced Next Week, Announces FM Nirmala Sitharaman While Presenting Union Budget 2025-26 (Watch Video)
In a major announcement, Finance Minister Nirmala Sitharaman on Saturday said the government will introduce a new Income Tax Bill next week.
New Delhi, February 1: In a major announcement, Finance Minister Nirmala Sitharaman on Saturday said the government will introduce a new Income Tax Bill next week. The new Income Tax Code will be announced next week, and the I-T Department will "trust first, scrutinise later", the Finance Minister said while presenting the Budget 2025-26. The Finance Minister also announced that the FDI limit for the insurance sector will be raised to 100 per cent and the enhanced limit for the insurance sector is to be applicable to those that invest entire premium in the country. Union Budget 2025슬롯사이트�26: Jal Jeevan Mission Extended Till 2028 With Enhanced Budget Outlay, Announces FM Nirmala Sitharaman (Watch Video).
The government has, in the past, introduced faceless assessment, faster tax returns and five 슬롯사이트˜Vivad Se Vishwas슬롯사이트� schemes. FM Sitharaman said during her Budget speech that speedy approvals for company mergers will be ensured and the scope of such norms to be expanded. "The government has shown steadfast commitment to ease of doing business and we will develop modern, people friendly, trust-based regulatory framework," the Finance Minister mentioned. Union Budget 2025슬롯사이트�26: FM Nirmala Sitharaman Announces 10,000 Additional Seats Will Be Added in Medical Colleges and Daycare Cancer Centres; 75,000 Seats To Be Added in Next 5 Years (Watch Video).
Centre To Introduce New Income Tax Bill Next Week
The 슬롯사이트˜Export Promotion Mission슬롯사이트� with sectorial and ministerial targets has also been launched. "Digital public infrastructure for international trade will be set up for financing solutions and support will be provided for domestic manufacturing to join global supply chains," said the Finance Minister. Jan Vishwas Bill 2.0 will be introduced to decriminalise over 100 provisions and an investment-friendly index of states will also be launched this year. The Budget Session of Parliament, which commenced on Friday, will be conducted in two phases - the first started on January 31 and will conclude on February 13, while the second phase will begin on March 10 and end on April 4.
(The above story first appeared on LatestLY on Feb 01, 2025 12:30 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).