New Delhi

Finance Minister Nirmala Sitharaman is poised to present a groundbreaking income tax bill in Parliament this Tuesday. The legislation, which has been in the works since July, aims to streamline and simplify the current tax laws, making them more user-friendly and concise.

Following the Cabinet's approval, the bill is expected to be referred to a standing committee for further examination. Sitharaman emphasized the importance of this step, stating, "The committee's recommendations will be crucial in shaping the final version of the bill before it returns to Parliament for approval."

This legislative move is part of the government's broader efforts to reform the tax system, making it more efficient and less burdensome for taxpayers. The Finance Minister also hinted at the possibility of additional amendments based on the committee's feedback.