Income Tax Bill 2025: The Parliamentary Committee has given several suggestions for amendments in the new Income Tax Bill, 2025 after considering it. The committee has submitted its report to the Lok Sabha on July 21. It is expected that the government will amend the bill based on the suggestions of the committee
A Parliamentary Committee has given several suggestions regarding the Income Tax Bill, 2025. If the government amends this bill on the basis of these suggestions, then it will provide great relief to small taxpayers. The committee has said that there should be an amendment in the clause under which it is necessary to file income tax return only to claim refund. This clause states that even if the taxpayer’s income is less than the tax exemption limit, income tax return will have to be filed to claim tax refund.
Rules for refund in the new Income Tax, 2025 Bill
The draft of this bill provides that if a taxpayer’s TDS is deducted, he will have to file ITR to claim refund, even if his salary is less than the exemption limit. If he does not file ITR within the stipulated time, the Income Tax Department can impose a penalty on him. In some situations, the Income Tax Department also has the right to file a case against him. The Parliamentary Committee believes that this provision is not right. This will put small taxpayers in trouble. Especially, taxpayers whose income is less than the tax exemption limit, pensioners and temporary workers will face problems.
Amendment in the rule will provide relief to small taxpayers
The Parliamentary Committee said that there is also a danger of misuse of this rule. Therefore, it has advised the government to remove sub-clause (1)(IX) of clause 263 of this bill. If the government removes this clause, then even small taxpayers will be able to claim refund without filing income tax returns. They will also not have to fear penalty and legal proceedings against them. The committee has said that this will make things easier in the tax system. The aim of the new Income Tax Bill is to simplify the tax system and provide more convenience to taxpayers.
The Parliamentary Committee has submitted its report on 21 July
The Parliamentary Committee headed by Lok Sabha MP Baijayant Panda has studied the new Income Tax Bill, 2025. This committee consisted of 31 members. The committee has submitted its report to the Lok Sabha on 21 July 2025. The government introduced this bill in the Lok Sabha on 13 February 2025. After that, under a proposal presented by Finance Minister Nirmala Sitharaman, this bill was sent to the Parliamentary Committee for consideration. It is said that there are many such recommendations in the committee’s report which are in the interest of taxpayers.
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