
Parliament Monsoon Session Day 16 Live Updates: Key Legislative Bills In Lok Sabha; Manipur Budget And GST Bills On Rajya Sabha Agenda
After 1:00 pm, the Rajya Sabha will take up the general discussion on the Budget (Manipur), 2025-26. Following this, the House will consider and return two bills - the Manipur Goods and Services Tax (Amendment) Bill, 2025 and the Manipur Appropriation (No. 2) Bill, 2025. Additionally, the Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the State of Goa Bill, 2025 is listed for consideration and passing.
Parliament Monsoon Session 2025 Day 16 Live Updates:
Aug 11, 2025 09:39 (IST)
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BRS MP Seeks Rajya Sabha Discussion On Andhra Pradesh's Use Of Godavari River Waters
Bharat Rashtra Samithi MP KR Suresh Reddy on Monday gave a suspension notice in Rajya Sabha under rule 267 to discuss the "unauthorised utilisation of Godavari River waters by the State of Andhra Pradesh, through the construction of dams and barrages under the Godavari - Banakacherla Project, which diverts the water to other river basins, thereby affecting the interests of the state of Telangana."
Monsoon session of Parliament | BRS MP KR Suresh Reddy has given suspension of Business Notice in Rajya Sabha under rule 267 to discussed the 'unauthorized utilization of Godavari River waters by the State of Andhra Pradesh, through the construction of dams and barrages under the… pic.twitter.com/SK0YEQeruy
— ANI (@ANI) August 11, 2025
Aug 11, 2025 09:35 (IST)
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AAP's Sanjay Singh Seeks Rajya Sabha Debate On Bihar Voter Roll Revision
Aam Aadmi Party MP Sanjay Singh has submitted a notice under Rule 267 in the Rajya Sabha to hold a discussion on the constitutional and electoral implications of the ongoing Special Intensive Revision (SIR) of electoral rolls in Bihar.
Aug 11, 2025 09:25 (IST)
Bills For Consideration And Passing
1. The National Sports Governance Bill, 2025
2. The National Anti-Doping (Amendment) Bill, 2025
3. The Indian Ports Bill, 2025
Aug 11, 2025 09:25 (IST)
Bill For Introduction In Lok Sabha
The Income-Tax Bill, 2025, which was introduced in the Lok Sabha on February 13 to replace the existing Income-Tax Act, 1961, was formally withdrawn last Friday. A new version of the Income Tax Bill, incorporating most of the recommendations made by the Select Committee chaired by Baijayant Panda, will be introduced today.
Rahul Gandhi, 300 INDIA Bloc MPs To Protest Over Bihar Voter Roll Revision
Leader of the Opposition in the Lok Sabha, Rahul Gandhi, will lead a protest march of around 300 MPs from the INDIA bloc to the Election Commission of India (ECI) headquarters in New Delhi today.
The march will begin at 11:30 am from Parliament House and will cover approximately one kilometre to the Election Commission office. The demonstration is being held to oppose the Special Intensive Revision (SIR) of electoral rolls in Bihar and to raise concerns over alleged electoral malpractices.
However, the Delhi Police clarified that no permission has been sought so far for the proposed march by the INDIA Bloc from Parliament to the Election Commission.
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Indian Express
5 minutes ago
- Indian Express
More than half of India's exports to US face Trump's 25% reciprocal tariff
With the US' reciprocal tariff of 25 per cent on India having come into effect from August 7, the Indian finance ministry has estimated that more than half of the country's merchandise exports to the US are subject to the same. 'It is estimated that around 55% of total value of India's merchandise exports to the US will be subject to this reciprocal tariff,' Minister of State for Finance Pankaj Chaudhary told the Lok Sabha on Monday. In 2024, India's merchandise exports to the US totalled $87.3 billion, resulting in a trade surplus of $45.8 billion. 'It may be noted that reciprocal tariffs at varying rates have been imposed by the US on imports from all countries. Combination of different factors such as product differentiation, demand, quality, contractual arrangements would determine the impact on India's exports,' Chaudhary added in his reply to a question asking if the government had made any assessment on the impact of the US' reciprocal tariff threat on Indian goods. In a post on social media platform Truth Social on July 30, US President Donald Trump announced a 25 per cent tariff on Indian goods, with an additional but unspecified 'penalty' for importing energy and defence items from Russia. On August 6, the penalty was clarified to be an additional 25 per cent tariff that will be effective from August 27. As such, from that date, the tariff on Indian goods entering the US will be 50 per cent. Chaudhary's reply to the Lok Sabha question on Monday made no mention of the impact of the 25 per cent penalty or what proportion of India's exports would be subject to it. 'The Department of Commerce is engaged with all stakeholders including exporters and industry for taking feedback of their assessment of the situation. The Government attaches the utmost importance to protecting and promoting the welfare of our farmers, entrepreneurs, exporters, MSMEs etc. and will take all necessary steps to secure our national interest,' the minister further said. Certain items from various nations are exempt from the US' tariffs until the so-called investigations under Section 232 of the Trade Expansion Act of 1962 are completed. These investigations look into the effect of various imports on US national security. Currently, the US' Bureau of Industry and Security has nine active Section 232 investigations, including for pharmaceuticals and pharmaceutical ingredients. The pharma investigation is particularly crucial from an Indian point of view, with the US accounting for about a third of India's pharma exports of $30 billion in 2024-25. Economists have warned that the US' cumulative 50 per cent tariff could hurt India's growth. In an interview to The Indian Express, Tanvee Gupta Jain, UBS' Chief India Economist, said the 50 per cent tariff has put at risk $30 billion-$35 billion worth of New Delhi's exports to the US. This, Jain said, could lead to GDP growth being lower by almost a full percentage point over Siddharth Upasani is a Deputy Associate Editor with The Indian Express. He reports primarily on data and the economy, looking for trends and changes in the former which paint a picture of the latter. Before The Indian Express, he worked at Moneycontrol and financial newswire Informist (previously called Cogencis). Outside of work, sports, fantasy football, and graphic novels keep him busy. ... Read More
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First Post
7 minutes ago
- First Post
Income Tax Bill 2025 passes Lok Sabha: What are the new provisions? How do you benefit?
The Income-Tax (No.2) Bill, 2025 seeks to replace the Income Tax Act, 1961. The development comes days after Finance Minister Nirmala Sitharaman withdrew the previous draft of the bill in the Lok Sabha. But what do we know about the changes in the bill? Why was the earlier bill withdrawn? How do you benefit? read more Union Finance Minister Nirmala Sitharaman said the changes of the Select Committee had been incorporated. PTI File The Lok Sabha on Monday passed the new income tax bill. The Income-Tax (No.2) Bill, 2025 seeks to replace the Income Tax Act, 1961. The development comes days after Finance Minister Nirmala Sitharaman withdrew the Income Tax Bill, 2025, in the Lok Sabha. But what do we know about the changes in the bill? Why was the earlier bill withdrawn? How do you benefit? Let's take a closer look: Why was the earlier bill withdrawn? The government had withdrawn the bill on Friday. It said it would bring in a new version of the bill after including changes recommended by the select committee headed up by senior BJP member Baijayant Panda. STORY CONTINUES BELOW THIS AD The bill was reportedly withdrawn to avoid confusion about the different versions circulating. 'Almost all of the recommendations of the Select Committee have been accepted by the government. In addition, suggestions have been received from stakeholders about changes that would convey the proposed legal meaning more accurately,' said the statement of objects and reasons of the bill. 'There are corrections in the nature of drafting, alignment of phrases, consequential changes and cross-referencing. Therefore, a decision has been taken by the government to withdraw the Income-tax Bill, 2025 as reported by the Select Committee. Consequently, Income-tax (No. 2) Bill, 2025 has been prepared to replace the Income-tax Act, 1961,' the statement said. The Select Committee, chaired by Baijayant Panda, had suggested a host of changes in the Income-tax Bill, 2025, which was introduced in the Lok Sabha on February 13. Panda said the Income Tax Act had become too complex and the bill simplifies the tax code. The committee made 285 suggestions, most of which have been accepted, Sitharaman said. What do we know? The bill will take effect from April 1, 2026. It begins by making the language easier for the layman to read. The committee had suggested allowing refunds even if the Income Tax Return was filed after the due date. The earlier version of the bill had denied refunds if ITR was filed after the due date. It also allows penalties to be waived in case of accidental non-compliance. STORY CONTINUES BELOW THIS AD The committee also suggested no penalty on late filing of Tax Deducted at Source. Those who have to pay no tax – both Indians and NRIs – can apply for a 'nil certificate' in advance. The bill will take effect from April 1, 2026. It begins by making the language easier for the layman to read. Representational image. It also does away with terminologies of 'Financial Year' and ' Accounting Year' in favour of the 'Tax Year.' Under the current law, tax on income for the previous year is paid during this year. However, now tax on income will be paid that very year itself. Another change suggested by the Select Committee is the restoring the 80M deduction for companies relating to intercorporate dividends. This provision had been missing in the previous version of the draft. Companies were allowed to choose the 22 per cent tax rate in order to give up certain exemptions. However, this raised concerns about dual taxation given the way certain companies are structured. STORY CONTINUES BELOW THIS AD It makes clearer the definitions of 'capital asset', 'micro and small enterprises', and 'beneficial owner'. MSMEs have been previously defined under the MSME Act. A micro enterprise is one that has an investment of less than 1 crore and a turnover of 5 crores. A small enterprise has been defined as having an investment of under Rs 10 crore and a turnover of Rs 50 crore. It also set a 30 per cent standard deduction on tax on income from rental properties. The interest payable on borrowed capital to buy, build, repair a property can also be deducted from the rental property. The Finance Ministry earlier said 'key words' and 'phrases defined in court rulings (will) remain'. The Lok Sabha also passed the Taxation Laws (Amendment) Bill, 2025 which seeks to amend the Income-tax Act, 1961 as well as the Finance Act, 2025. It aims to provide tax exemptions to subscribers of the Unified Pension Scheme. The government in July announced that all tax benefits available under the New Pension Scheme (NPS) shall apply to the Unified Pension Scheme (UPS), which was implemented from April 1, 2025. STORY CONTINUES BELOW THIS AD It also seeks to give tax benefits to public investment funds of Saudi Arabia which is investing in India. These Bills were passed without any debate amid vociferous protest by members of Opposition over revision of electoral rolls in Bihar. After the passage of these bills by voice vote, the Lok Sabha was adjourned for the day. The bills needs to be passed by the Rajya Sabha – after which it will go to President for Droupadi Murmu for her assent. What do experts say? Experts have praised the changes in the new bill. Rajesh Gandhi, partner, Deloitte India, told Financial Express that the proposals for tax benefits by pension funds and sovereign funds in the infrastructure sector are similar to the existing tax law. Experts have praised the changes in the Bill. '…the provisions have been drafted in a more structured and concise manner. The government could have considered industry suggestions while drafting the proposals including extension of tax benefits to holding companies setup prior to 2021, allowing reinvestment of dividend income within the group without triggering double taxation of dividend income, extension of tax exemption to indirect share transfers, extension of tax benefit to capital gains from unlisted bonds / debentures as well as removal of withholding tax on exempt income earned by such funds', Gandhi said. STORY CONTINUES BELOW THIS AD Dinesh Kanabar, CEO, Dhruva Advisors, added that the new bill has witnessed some very welcome changes. 'There were a number of provisions against which representations were made to select committee. These have now been accepted in the Bill presented today. To give a few examples, the provisions of levying Alternate Minimum Tax on LLPs has been done away with, the rigours placed on Charitable Trust have been removed, the provisions of Transfer Pricing and the definition of Associated Enterprise to whom these provisions apply, have been relaxed. A set of very welcome changes. Glad that the representations to the Select Committee have borne fruit'. With inputs from agencies


Economic Times
7 minutes ago
- Economic Times
House panel favours phased adoption of proposed digital competition law to regulate Big Tech
A parliamentary committee suggests a phased approach to the digital competition law. The law aims to regulate Big Tech companies. The committee wants to prevent inadvertently capturing domestic firms. They propose a rebuttal mechanism for companies. The Corporate Affairs Ministry supports timely action against anti-competitive practices. The Competition Commission of India wants a balanced approach. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Parliamentary Standing Committee on Finance has pitched for a 'nuanced, phased, and evidence-based' approach in the implementation of a proposed digital competition law with an ex-ante framework to regulate the Big Tech companies, taking into account capacity constraints of the antitrust its report submitted with the Lok Sabha on Monday, the panel headed by senior BJP leader Bhartruhari Mahtab also favoured the inclusion of new provisions in the Digital Competition Bill (DCB), aligning with global panel has suggested that the corporate affairs ministry refine the DCB's thresholds and designation mechanisms—which would be used to identify systemically significant digital enterprises (SSDEs) for ex-ante regulations—to 'prevent inadvertent capturing of fast-growing domestic firms'.The panel has also recommended the introduction of a 'rebuttal mechanism' in exceptional cases, similar to the one adopted by the EU, to enable companies to contest their SSDE designation by the ministry of corporate affairs (MCA), in its submission with the house panel in April, said quick adaptation to new digital trends, 'ensuring a timely response to emerging anti-competitive practices and ex-ante evaluation of competitive behaviour in digital markets to pre-empt and prevent the emergence of monopolistic structures is the need of the hour'.The ministry has also shared various concerns expressed by stakeholders about select provisions of the draft its part, the Competition Commission of India has told the panel that the ex-ante regulatory framework 'should reflect a balanced approach so as to achieve the objective of competitive digital markets without stifling innovation'.'Only the largest of the technology behemoths with systemic significance should come within its ambit and the ex-ante obligations should target/prevent only such conduct that are unambiguously anti-competitive,' it month, minister of state for corporate affairs Harsh Malhotra told the Lok Sabha that the government would undertake market studies to build "an evidence-based foundation" to introduce an ex-ante year, a high-level official panel led by then corporate affairs secretary Manoj Govil had suggested a new antitrust law with an ex-ante framework to regulate only the had submitted with the MCA a draft digital competition bill, along with its report, for consideration. The government was supposed to assess the draft bill and the report before firming up its own bill after due process of consultations.