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The Lok Sabha's select committee to examine the Income-Tax Bill, 2025, was constituted on Friday, with BJP MP Baijayant Jay Panda appointed as its chairman
The panel has 31 MPs, with 17 belonging to the ruling National Democratic Alliance (NDA). Of these, 14 are members of the BJP, with a single representative from the TDP, JD(U), and the Shiv Sena.
The opposition holds 13 seats, comprising six from the Congress, two members from the Samajwadi Party, and one each from the DMK, TMC, Shiv Sena (UBT), NCP (SP), and the RSP. Furthermore, Richard Vanlalhmangaiha is Mizoram's incumbent Zoram People's Movement.
Among BJP members on the board are Nishikant Dubey, P P Chaudhary, Bhartruhari Mahtab, and Anil Baluni. Some of the prominent opposition members are Deepender Singh Hooda of the Congress, Mahua Moitra of the TMC, Supriya Sule of the NCP (SP), and N K Premachandran of the RSP.
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The report needs to be presented by the committee within the first day of the Monsoon Session.
The current Budget Session will end on April 4, and the Monsoon Session is likely to start in the third week of July.
Finance Minister Nirmala Sitharaman moved the Bill in Lok Sabha on Thursday and asked Speaker Om Birla to refer it to a select committee.
The Bill seeks to make tax terms simpler, doing away with such terms as "assessment year" and "previous year" to use "tax year" instead, and striking out provisos and explanations for making the terms more understandable.
