Budget Session: Nirmala Sitharaman introduces Income Tax Bill in Lok Sabha
The new Income Tax Bill aims to bring in ease of compliance as it will help reduce compliance processes by streamlining paperwork, integrating digital platforms, and simplifying return filing mechanisms
Union Finance Minister Nirmala Sitharaman on Thursday (February 13) introduced the Income Tax Bill, 2025, in the Lok Sabha and urged Speaker Om Birla to refer it to a select committee of the House.
Opposition members opposed the Bill at the introduction stage but the House passed a motion by voice vote for its introduction.
While moving the Bill for introduction, Sitharaman pleaded Birla to refer the draft law to a select committee of the House, which will submit its report by the first day of the next session. She urged the speaker to take a call on the proposed panel's composition and rules.
The Income Tax Bill, 2025, aims to simplify tax laws, modernise definitions, and provide more clarity on various tax-related matters. It seeks to replace the existing Income Tax Act, 1961 and introduce changes that affect different categories of taxpayers, including individuals, businesses, and non-profit organisations.
One of the significant changes in the new bill is the introduction of simplified language and modern terminology. It replaces outdated terms and brings in new ones to align with today's economy.
Waqf Bill JPC report tabled amid uproar
Meanwhile, the report of the Joint Parliamentary Committee (JPC) on the Waqf (Amendment) Bill, 2024, was tabled in the Rajya Sabha amid massive protests by the Opposition, forcing Chairperson Jagdeep Dhankhar to briefly adjourn proceedings.
As soon as the report on the Bill, which aims to streamline registration of Waqf properties, was tabled by Rajya Sabha MP Medha Kulkarni, Opposition MPs claimed that portions of dissent notes were removed and resorted to sloganeering.
The Centre, however, highlighted that the JPC chairman has the discretion to take down the portions that malign the committee.
The government sources said that only those parts of the dissent notes of the Opposition have been deleted that made “unparliamentary remarks" against JPC chairman and BJP MP Jagdambika Pal. “The dissent notes are part of the report,” sources said.
Lok Sabha adjourned till 2 pm
Earlier, Lok Sabha proceedings were adjourned till 2 pm amid protests by Opposition members over allocation of a project to a businessman in Gujarat.
As soon as the House met for the day, Opposition members, including those from the Congress, sought to raise the issue of the project allocation. A visibly-peeved Speaker Om Birla told the protesting members not to disrupt the proceedings and urged them to follow the tradition of the House.
He also asked the members whether they did not want the House to function, and as the protests continued, the proceedings were adjourned in less than five minutes till 2 pm.
The Congress on Wednesday (February 12) alleged that the Centre endangered national security to benefit private billionaires, over reports that border security rules were relaxed for a business group to set up an energy park.
Reacting to media reports that the government relaxed national security protocols along the Pakistan border to make way for a renewable energy park of the Adani Group in Gujarat, Congress president Mallikarjun Kharge had said that the pseudo-nationalism face of the ruling Bharatiya Janata Party (BJP) has once again been unmasked.
The Adani Group did not respond to the allegations.
Also read: Number of Indian prisoners in foreign jails is 10,152: Govt informs Parliament
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- 13 Feb 2025 11:26 AM GMT
Focus on four groups to have impact across country: Sitharaman
"The first advance estimates from the NSO has said that India's economy will grow by 6.4% in real terms and about 9.7% in nominal terms. So, the Budget this year, we have kept our goals in such a way that we are able to accelerate growth, secure inclusive development, invigorate private sector investments, uplift household sentiments and also to directly or indirectly enhance spending power of the Indian rising middle-class. In all this, we have seen that there are four groups of people that if you touch and serve, the impact will be across the country - 'gareeb' (poor), youth, 'annadata' (farmers) and 'nari' (women)," says Finance Minister Nirmala Sitharaman
- 13 Feb 2025 11:04 AM GMT
TMC's Abhishek slams BJP-led Centre over JPC report on Waqf Bill
Trinamool Congress leader Abhishek Banerjee on Thursday slammed the Centre over the joint parliamentary committee report on the Waqf (Amendment) Bill, alleging that the BJP was trying to stifle voices of the opposition.
Earlier in the day, the report of the joint committee of Parliament on the Waqf Bill was tabled in the Rajya Sabha.
Opposition MPs led by Congress leader Mallikarjun Kharge alleged that dissent notes were deleted from the report, a charge denied by Union Parliamentary Affairs Minister Kiren Rijiju.
Asked about the JPC report on the Waqf (Amendment) Bill, Banerjee said, "This is what they do. You saw how they silence opposition voices. It’s okay, let’s wait and watch - people are noticing." On criticism of the West Bengal budget, which was presented on Wednesday in the state assembly, Banerjee said, "Those who call it directionless should first read it. Criticising without understanding has become a trend." He also termed them "empty vessels", and alleged that they had "nothing to offer" for Bengal in the Union Budget.
"That’s why we said the BJP-led Centre deprived Bengal," he claimed.
- 13 Feb 2025 11:02 AM GMT
Matter of removal of high court judge constitutionally lies with Parliament: Rajya Sabha chairman
Rajya Sabha Chairman Jagdeep Dhankhar on Thursday asserted that only Parliament has the jurisdiction to constitutionally remove a high court judge, saying a notice for removal of Justice Shekhar Yadav of Allahabad High Court is pending with him.
Speaking in the House, the chairman also asked the Rajya Sabha Secretary General to share with the Secretary General of the Supreme Court the information that 55 members of the upper house had given a notice to the Chairman for removal of Justice Yadav in December.
"I am seized of an undated notice for motion received on 13 December 2024, bearing 55 purported signatures of the members of the Rajya Sabha seeking removal from office of Justice Shekhar Yadav of Allahabad High Court under Article 124(4) of the Constitution. The jurisdiction for the stated subject matter constitutionally lies in exclusivity with the Chairman Rajya Sabha and in an eventuality with the Parliament and Hon'ble President," Dhankhar said.
"Taking note of public domain information and inputs available, it is expedient that the Secretary General, Rajya Sabha shares this for information with the Secretary General, Supreme Court of India," he said.
The Supreme Court had sought a report from the chief justice of the Allahabad High Court on the remarks made by Justice Yadav and had later asked him to appear before senior judges of the court.
Members of several Opposition parties had moved the notice in Rajya Sabha on December 13, 2024 for impeachment of Justice Yadav over his alleged controversial remarks at a recent VHP event, sources said.
