https://www.taxtmi.com/news?id=34141 A parliamentary select committee of 31 members has been constituted to examine the Income Tax Bill, 2025, with a mandate to scrutinise the draft law and submit a report by the first day of the Monsoon session. The Bill proposes statutory language reform by replacing terms such as assessment year and previous year with tax year and by removing provisos and explanatory clauses to simplify understanding; the select committee is the legislative mechanism to review and recommend amendments ahead of further parliamentary consideration. en-us Sat, 15 Feb 2025 00:01:04 +0530 Sat, 15 Feb 2025 00:01:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=34141 A parliamentary select committee of 31 members has been constituted to examine the Income Tax Bill, 2025, with a mandate to scrutinise the draft law and submit a report by the first day of the Monsoon session. The Bill proposes statutory language reform by replacing terms such as assessment year and previous year with tax year and by removing provisos and explanatory clauses to simplify understanding; the select committee is the legislative mechanism to review and recommend amendments ahead of further parliamentary consideration. News - Sat, 15 Feb 2025 00:01:04 +0530 https://www.taxtmi.com/news?id=34141