Panda to head 31-member select panel on I-T Bill

• BJP MP Baijayant Jay Panda appointed as chairman.

• The committee will consist of 31 MPs, including 17 from the ruling National Democratic Alliance.

• Opposition parties include 13 MPs, including six from Congress, two from Samajwadi Party, and one each from DMK, Trinamool Congress, Shiv Sena, NCP, and RSP.

• The panel is mandated to submit its report by the first day of the Monsoon session.

• Finance Minister Nirmala Sitharaman urged Speaker Om Birla Birla to refer the draft law to a select committee.

• The bill will replace “assessment year” and “previous year” with “tax year” to simplify language.