According to media sources, The Income-Tax Bill, 2025, is scheduled to be introduced in the Lok Sabha tomorrow. The bill, which is aimed at consolidating and amending the law relating to income tax, has been listed in the business of the House. In her budget speech, Finance Minister Nirmala Sitharaman had announced bringing in a new income tax bill. She had also announced that individuals earning up to 12 lakh rupees annually will pay no income tax.
The Report of the Joint Committee on the Waqf (Amendment) Bill, 2024, is also scheduled to be tabled in the Lok Sabha tomorrow, which is the last day of the first part of the Budget Session of Parliament.
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