Budget session of Parliament begins today
Listen to this Article
The Budget session of Parliament begins today. It will commence with President Pratibha Devisingh Patil's customary address to the joint sitting of the Lok Sabha and the Rajya Sabha.
The first part of the session will conclude on the 30th of this month and the second phase will start from the 24th of next month after a three-week recess during which Parliamentary Standing Committees deliberate on proposals of different ministries.
The session is expected to conclude on the 22nd of May.
The Union Budget 2012-13 will be presented on Friday, four days after Parliament begins its Budget session. While the Rail Budget will be presented on Wednesday, the Economic Survey outlining Government's assessment of the economy will be tabled on Thursday.
AIR correspondent reports, the budget session, which generally starts in the third week of February, has been delayed this time due to the Assembly elections in five states, including Uttar Pradesh. Ahead of the session, Congress has sought to reach out to allies by expressing readiness to walk the extra mile to strengthen coordination with them.
It has also given hints that it was open to the idea of forming a UPA Coordination Committee. Just after the assembly poll verdict, Congress president Sonia Gandhi has assured regular interaction with allies and expressed the hope that allies and the opposition will support the people-oriented measures.
Earlier yesterday, BJP Parliamentary Party and NDA floor leaders in both Houses of Parliament held separate meetings to discuss the strategy to take on the UPA government in the coming budget session on issues like price rise, corruption and Indian children in Norway, NCTC formation.
Category : Income Tax | Comments : 0 | Hits : 326
If you earn income other than salary or have multiple income streams, the advance tax deadline falling today—Monday, December 15, 2025—should not be overlooked. Failure to pay advance tax on time, or paying less than the required amount, may attract interest charges that continue to accumulate. As the Income Tax Act operates on a “pay as you earn” basis, being aware of advance tax provisions and the financial impact of delays can help you avoid unnecessary costs and last-...
If you earn income other than salary or have multiple income streams, the advance tax deadline falling today—Monday, December 15, 2025—should not be overlooked. Failure to pay advance tax on time, or paying less than the required amount, may attract interest charges that continue to accumulate. As the Income Tax Act operates on a “pay as you earn” basis, being aware of advance tax provisions and the financial impact of delays can help you avoid unnecessary costs and last-...
As many as 5,44,205 appeals were pending resolution with the Income Tax (IT) Department at commissioner (appeals) level as of January 31 this year, and 63,246 at various Income Tax Appellate Tribunals (ITATs), High Courts, and the Supreme Court, FE has learnt. To be precise, the cases pending in ITATs were 20,266 High Courts, 37,436; and Supreme Court 5,544. The large pendency is even as the Central Board of Direct Taxes (CBDT) has laid emphasis on disposing of income tax appeals in its 10...
The Central Board of Direct Taxes (CBDT) has facilitated taxpayers to file their Income Tax Returns (ITRs) for the Assessment Year 2024-25 (relevant to Financial Year 2023-24) from 1st April, 2024 onwards. The ITR functionalities i.e. ITR-1, ITR-2 and ITR-4, commonly used by taxpayers are available on the e-filing portal from 1st April, 2024 onwards for taxpayers to file their Returns. Companies will also be able to file their ITRs through ITR-6 from April 1 onwards. As ...
It has come to notice that misleading information related to new tax regime is being spread on some social media platforms. It is therefore clarified that the new regime under section 115BAC(1A) was introduced in the Finance Act 2023 which was as under as compared to the existing old regime (without exemptions): New Regime 115BAC (1A) introduced for FY 2023-24 Existing old Regime 0-3 lacs 0% 0-2.5 lacs 0% ...


Comments