Parliamentary panel on I-T Bill backs time-bound resolution of tax cases

NEW DELHI: There should beryllium a time-bound solution of litigations, a parliamentary sheet that examined the Income Tax Bill, 2025, has suggested, arsenic it made 285 recommendations connected the draught authorities aimed astatine simplifying and modernising taxation laws.The prime committee of Lok Sabha headed by BJP's Baijayant Panda examined the IT Bill and adopted the study connected the draught legislation, which is expected to beryllium presented successful the House connected Monday (July 21) - the archetypal time of Parliament's monsoon session. "We person made 285 recommendations. The authorities has already accepted 250. We person said taxation litigations should not linger connected and determination should beryllium time-bound resolution, though immense improvements person happened arsenic tin beryllium seen successful the lawsuit of refunds," a sheet subordinate said.

New IT measure removes redundant provisions The recommendations of the parliamentary sheet that examined the Income Tax Bill, 2025, were mostly "corrective" successful nature, a sheet subordinate told TOI. The simplification efforts person led to the simplification of the size of the papers to 600 pages from the earlier 850. The IT Bill, 2025, was tabled successful Parliament connected February 13 and was aimed astatine simplifying the connection and operation of the IT Act 1961.

It was sent to the prime committee for examination.The simplification workout was guided by 3 halfway principles, which included textual and structural simplification for improved clarity and coherence, nary large taxation argumentation changes to guarantee continuity and certainty, and nary modification of taxation rates, which is aimed astatine preserving predictability for taxpayers, an authoritative connection had said.The caller IT Bill besides aims astatine eliminating redundant and repetitive provisions for amended navigation, reorganising sections logically to facilitate lawsuit of reference.

It has opted for simplified connection to marque the instrumentality much accessible and has removed obsolete and redundant provisions for greater clarity.Existing taxation principles person been preserved to guarantee continuity portion enhancing usability, the connection had said. "The Income-Tax Bill, 2025, reflects the govt's committedness to enhancing easiness of doing concern by providing a taxation model that is simplified and clear," it had said.In an interrogation to TOI a time aft presenting her 8th consecutive Budget successful February this year, concern curate Nirmala Sitharaman had said that the caller IT measure was aimed astatine making it applicable for the 21st century.CBDT president Ravi Agrawal had said determination has been simplification successful presumption of the connection and presumption and it brings much clarity to the strategy which is expected to trim litigation.