New Delhi, Feb. 11 -- The new Income Tax Bill will be introduced in the Lok Sabha on Thursday, sources said.

They said the government is keen on detailed consultations on the bill and it is likely to be sent to a Select Committee for further examination.

The Union Cabinet last week cleared the new Income Tax bill.

Sitharaman had indicated earlier that the bill will be sent to a parliamentary committee for scrutiny. "The process is the committee gives its recommendations, it comes back, and then the government, through the Cabinet, takes a call whether these amendments are to be taken in," she had said.

In July 2024 Budget, the government had proposed a comprehensive review of the Income-tax Act, 1961. The purpose was to make the Act c...