New Delhi, Feb 13: Finance Minister Nirmala Sitharaman is scheduled to introduce the new Income Tax Bill in the Lok Sabha on Thursday as part of the tax reforms to streamline and simplify the provisions so that they are easier to understand and reduce the scope for legal disputes.

The Parliament’s Budget Session began at 11 a.m. The Lok Sabha, however, was adjourned till 2 p.m. amid protests by opposition members on various issues. The Finance Minister is expected to table the Income Tax bill in the Lower House later in the day.

The Income Tax Bill is being reduced to 622 pages and contains 536 clauses. It will replace the existing 64-year-old law that runs into 823 pages with 819 sections. The proposed bill seeks to simplify the language by introducing clearer terms, such as replacing ‘assessment year’ with ‘tax year’. It will eliminate various convoluted provisions and explanations to make it easier to understand and reduce the scope of legal disputes. Some archaic clauses are being dropped as part of the simplification process.

The legislation will supersede the Income Tax Act, 1961, which has grown extensively due to numerous modifications carried out over six decades. The revised tax framework is expected to come into force from April 1, 2026.

Its primary objective is to simplify the tax laws, ensuring they are more transparent, easier to interpret, and taxpayer-friendly. By replacing complex provisions with clearer provisions, it aims to reduce legal disputes and encourage voluntary tax compliance.

Once introduced in the Lok Sabha, the Bill will be sent to the Parliamentary Standing Committee on Finance for further deliberations. The new law is expected to take effect on April 1, 2026.

The bill will not change the existing tax slabs or review the tax rebate given. Instead, it aims to make the six-decade-old legislation reader-friendly.

“This reform is a significant step towards modernizing India’s tax framework, bringing greater clarity and efficiency. The bill promises a more streamlined, accessible tax system, making it easier for citizens and businesses to fulfil their obligations while fostering trust in the system,” says Rohinton Sidhwa, Partner, Deloitte India.

New Delhi, Feb 13: The Joint Parliamentary Committee (JPC) on Waqf (Amendment) bill tabled its report in the Rajya Sabha on Thursday amidst uproar by the members of the Opposition members. As the chaos prevailed, the House was adjourned for 10 minutes and convened again with both sides engaging in discussion on the bill.

Leader of the House J.P. Nadda also condemned the Opposition for creating a ruckus during the reading of the President’s note.

Leader of Opposition in the Rajya Sabha, Mallikarjun Kharge, called the report “unconstitutional” and “fake.” He claimed that multiple members had submitted dissent notes, but the majority view was forced through without due consideration.

“The JPC report on Waqf had dissenting views from several members, but they were bulldozed. This is not right. It is condemnable and an anti-democratic act,” Kharge stated.

Expressing “shock,” he said, “The dissenting views were deleted, and the report is being tabled. I condemn this, and the House will never accept this fake report.”

He demanded that if dissenting views were excluded, the report should be withdrawn and reviewed again. He urged Leader of the House J.P. Nadda to take back the “unconstitutional” JPC report.

Following the uproar, Nadda hit back at the Opposition, slamming their conduct. “Debates and discussions are necessary in Parliament. In a democracy, we agree to disagree. But we must uphold traditions and conduct proceedings in a constitutional manner,” he asserted.

Expressing disappointment, he added, “Despite repeated requests from the Chair, the Opposition disrupted the House even during the President’s message. This behaviour is highly irresponsible and deserves strong condemnation.”

Union Parliamentary Affairs Minister Kiren Rijiju also targeted the Opposition, accusing them of “misleading” the issue. He stated that no part of the report had been deleted or altered.

“Some of the concerns raised by the Opposition were verified, and I found that no section of the report was removed. Everything has been tabled before the House. On what basis are these allegations being made? Do not mislead the issue,” Rijiju said, dismissing the claims as false.

He further pointed out that the Opposition was actively involved in the preparation of the report over the past six months.

Jagdambika Pal, BJP MP and Chairman of the Joint Parliamentary Committee (JPC) for the Waqf (Amendment) Bill, had earlier said that the committee was presenting its report after months of consultations.

Pal highlighted that disagreements were part of the legislative process. He added that even after the report’s finalisation, dissenting members were invited to submit their notes of dissent, which were included in the final report along with stakeholders feedback.

Despite this, opposition leaders continued to express their objections. Trinamool Congress MPs Kalyan Banerjee and Md Nadimul Haque, both JPC members, accused the committee of expunging key portions of their dissent notes from the final report.

The Waqf Act of 1995, introduced to regulate Waqf properties, has long been criticized for mismanagement, corruption, and illegal encroachments. The Waqf (Amendment) Bill, 2024, aims to address these concerns by implementing reforms, including digitisation of records, enhanced auditing measures, improved transparency, and legal mechanisms to reclaim unlawfully occupied properties.

Bengaluru, Feb 13: Under fire over fare hike in Namma Bengaluru Metro, Karnataka Chief Minister Siddaramaiah appealed to the Bangalore Metro Rail Corporation Limited (BMRCL) on Thursday to reduce fare hike.

The Congress-led Karnataka government has been facing criticism from all corners, including the public over the steep ticket price hike.

Following the price hike, the Namma Metro ridership was reduced by about 80,000 in the city.

CM Siddaramaiah stated, “The way Bangalore Metro Rail Corporation Limited (BMRCL) has implemented the Bengaluru Metro fare revision has led to anomalies, with fares more than doubling in certain sections.”

He further stated, “I have asked the MD of BMRCL to urgently address these issues and reduce fares where increases are abnormal. Commuters’ interests must be safeguarded.”

Last Saturday, the BMRCL announced a revision of Metro ticket prices.

The official statement by the BMRCL stated that the new ticket prices are fixed at Rs 10 for 0 to 2 km distance; Rs 20 for 2 to 4 km; Rs 30 for 4 to 6 km; Rs 40 for 6 to 8 km; Rs 50 for 8 to 10 km; Rs 60 for 10 to 15 km; Rs 70 for 15 to 20 km; Rs 80 for 20 to 25 km; and Rs 90 for 25 to 30 km. For over 30 km, the ticket price will remain Rs 90.

Demanding immediate rollback of the Metro fare hike, a BJP delegation met with the Metro MD M. Maheshwar Rao on Monday, describing it as the steepest Metro fare hike in the country.

Bengaluru MLA Ravi Subramanya criticised the state government for burdening the public with multiple price hikes and increasing Metro fares by 46 per cent. He also insisted that essential facilities should be provided at Metro stations.

“The Metro is meant for the public. Prioritising profits is not the right approach. The project was implemented to ease Bengaluru’s traffic congestion, and even the central government has provided financial aid for it. The fare increase is unfair,” he stated.

Earlier, Siddaramaiah slammed the opposition BJP, charging that the party was misleading the public by spreading distorted information.

“Since 2017, Metro fares have not been revised. Recognising this, BMRCL had written to the central government requesting fare revisions. If the state government had full authority over Metro fares, why would BMRCL write to the Central government instead of addressing the state government directly?” CM Siddaramaiah had stated.