New Delhi, Aug. 11 -- The Lok Sabha proceedings will begin at 11 am today with a packed agenda, including multiple committee reports, ministerial statements, and important legislative business.
Union Finance Minister Nirmala Sitharaman will be introducing the revised Income-tax Bill, 2025, in the Lok Sabha, replacing the original draft tabled on February 13, 2025.
The Finance Act, 2025, has increased the income threshold for claiming a tax rebate under Section 87A of the Income Tax Act, 1961, for resident individuals taxable under the new tax regime (Section 115BAC) from Rs 7 lakh to Rs 12 lakh. The maximum rebate amount has been raised from Rs 25,000 to Rs 60,000.
The earlier version of the bill was formally withdrawn, drawing criticism o...