Lok Sabha introduced it in the House earlier in the Parliamentary budget session before sending the bill to the committee regarding the request of Finance Minister Nirmala Sitharaman.
Sitharaman said the new IT bill would take over the spirit of “nyaya” (justice) based on the concept of “trust first, then scrutiny.”
The bill aims to replace terms such as “evaluation year” and “previous year” with easy-to-understand “tax years” as part of a move to remove provisions and explanations while simplifying the language.
Lok Sabha speaker Om Birla formed a committee selected from 31 members on February 14th.
In addition to the pandas, other BJP members on the panel include Nishikant Dubey, PP Chaudhary, Bhartruhari Mahtab and Anil Baluni. Opposition lawmakers include Deepunda Singh Huda of Congress, Mahua Moitra of TMC, Supriya Soule of NCP (SP) and NK Premachandran of RSP.
The panel is required to submit reports by the first day of the monsoon session. The budget session will end on April 4th, and the monsoon session will begin in the third week of July.
