Current Affairs - Bills and Acts

The Income Tax Act, of 1961, has been the primary framework for taxation in India and has undergone more than 4,000 amendments since its enactment. The Finance Minister's proposal to introduce the Income Tax Bill 2025 aims to simplify and streamline this existing Act, which has grown increasingly complex over the years. The new Bill aims to reduce its word count and simplify terminology, thus reducing confusion for taxpayers and tax authorities alike while improving compliance and efficiency. The Act's original version was passed in 1961.

The Representation of the People Act, of 1951, was enacted to regulate elections and establish disqualification criteria for elected officials. It includes provisions such as Section 8(3), which disqualifies individuals convicted of serious criminal offences, and Section 8(1), which covers disqualification for heinous crimes like rape and corruption. The Act plays a critical role in the electoral system by ensuring that individuals with criminal backgrounds are excluded from holding public office, contributing to efforts to decriminalize politics in India.

The Lokpal Act, aimed at addressing corruption through the establishment of an ombudsman, was enacted in 2014. This legislation was significantly influenced by the efforts of social activist Anna Hazare, whose movement garnered widespread public and political attention. The act's implementation marked a major step in institutionalizing mechanisms for transparency and accountability in governance. Celebrating Lokpal Foundation Day on January 16 acknowledges the contributions of individuals like Hazare, who played a pivotal role in its creation.

Article 153 of the Indian Constitution mandates that there shall be a Governor for each State. It also allows one person to serve as Governor for multiple States if required. The Governor acts as the constitutional head of the State, exercising executive powers as prescribed in the Constitution. Their role is vital in maintaining the federal structure, ensuring the State's administration aligns with constitutional provisions. This makes Article 153 fundamental to the governance framework in India.

The GST Council has approved the implementation of a 'Track and Trace Mechanism' to curb tax evasion for certain commodities. To facilitate this, Section 148A is to be added to the CGST Act, 2017, which provides the government with the necessary authority to enforce this mechanism. This system involves affixing unique marks on goods/packages to enable tracking throughout the supply chain.