Fri Feb 14 18:02:19 UTC 2025: ## Lok Sabha Forms Committee to Scrutinize Income Tax Bill Simplification
**New Delhi** – The Lok Sabha has formed a 31-member Select Committee to review the proposed Income Tax Bill, Speaker Om Birla announced Friday. Headed by BJP MP Baijayant Panda, the committee is tasked with submitting its report by the first day of the next parliamentary session, tentatively scheduled for late July.
The Bill, introduced by Finance Minister Nirmala Sitharaman on Thursday, aims to simplify the tax code by replacing jargon like “assessment year” and “previous year” with the more user-friendly “tax year.” The simplification also includes the removal of several provisos and explanations. Sitharaman herself requested the referral of the Bill to a Select Committee for thorough examination. The current Budget Session concludes on April 4th.
First Piper 