Lok Sabha Passes New I-T Bill Amid Stir Over SIR Issue

Provision that allowed refunds only if return filed on time removed

- DIPAK MONDAL @ New Delhi

The Lok Sabha on Monday passed the new Income Tax Bill without any debate, amid opposition protests over the Special Intensive Revision (SIR) of electoral rolls. The government tabled a revised version of the Bill incorporating most of the recommendations made by the Select Committee.

The original draft had ambiguities regarding house property taxation, pension deductions, and the refund process for delayed filings. The revised Bill addresses these issues.

The most significant change is the removal of a provision in the earlier draft that would have allowed tax refunds only if a return was filed on or before the due date.