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

NEW DELHI: There ought to be a time-bound resolution of litigations, a parliamentary panel that examined the Income Tax Bill, 2025, has urged, because it made 285 suggestions on the draft laws aimed toward simplifying and modernising tax legal guidelines.The choose committee of Lok Sabha headed by BJP’s Baijayant Panda examined the IT Bill and adopted the report on the draft laws, which is predicted to be introduced within the House on Monday (July 21) – the primary day of Parliament’s monsoon session. “We have made 285 recommendations. The government has already accepted 250. We have said tax litigations should not linger on and there should be time-bound resolution, although huge improvements have happened as can be seen in the case of refunds,” a panel member mentioned. New IT invoice removes redundant provisions The suggestions of the parliamentary panel that examined the Income Tax Bill, 2025, have been largely “corrective” in nature, a panel member advised TOI. The simplification efforts have led to the discount of the scale of the doc to 600 pages from the sooner 850. The IT Bill, 2025, was tabled in Parliament on February 13 and was aimed toward simplifying the language and construction of the IT Act 1961. It was despatched to the choose committee for examination.The simplification train was guided by three core ideas, which included textual and structural simplification for improved readability and coherence, no main tax coverage modifications to make sure continuity and certainty, and no modification of tax charges, which is aimed toward preserving predictability for taxpayers, an official assertion had mentioned.The new IT Bill additionally goals at eliminating redundant and repetitive provisions for higher navigation, reorganising sections logically to facilitate case of reference. It has opted for simplified language to make the legislation extra accessible and has eliminated out of date and redundant provisions for better readability.Existing taxation ideas have been preserved to make sure continuity whereas enhancing usability, the assertion had mentioned. “The Income-Tax Bill, 2025, reflects the govt’s commitment to enhancing ease of doing business by providing a tax framework that is simplified and clear,” it had mentioned.In an interview to TOI a day after presenting her eighth consecutive Budget in February this yr, finance minister Nirmala Sitharaman had mentioned that the brand new IT invoice was aimed toward making it related for the twenty first century.CBDT chairman Ravi Agrawal had mentioned there was simplification in phrases of the language and presentation and it brings extra readability to the system which is predicted to scale back litigation.