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February 1, 2025e-Paper

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Union Budget 2025: Propose to introduce new income tax bill next week, says FM Sitharaman 

Changes to direct tax and indirect tax reforms would be detailed later in her speech, the FM stated.

Updated - February 01, 2025 07:19 pm IST

The Hindu Bureau
Finance Minister Nirmala Sitharaman told the house that she would be introducing the new income tax bill next week

Finance Minister Nirmala Sitharaman told the house that she would be introducing the new income tax bill next week | Photo Credit: PTI

Finance Minister Nirmala Sitharaman told the house that she would be introducing the new income tax bill next week. She would be detailing the changes and reforms to indirect taxes and direct taxes later in her speech. Presenting her eighth budget on Saturday (February 1, 2025), the Finance Minister further reaffirmed the commitment of the tax department entailing ‘Trust First and Scrutinise Later’.  

Also read: Union Budget 2025 LIVE updates

The Rajya Sabha MP further apprised the house about the treasury having implemented several reforms for convenience of taxpayers, including, faceless assessment, taxpayer charter and facilitating ease in self-assessment.  

The Rajya Sabha MP is presenting her eighth budget on Saturday (February 1, 2025) – taking her closer to the record ten budgets presented by former Prime Minister Morarji Desai during his lifetime.  

Published - February 01, 2025 12:02 pm IST

Related Topics

budgets and budgeting / Union Budget / personal income / business (general)

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