Tag: Finance Bill

Finance Bill 2023 passed by Lok Sabha

Taxation proposals approved, and a committee on pension system for government employees proposed.

March 24, 2023

Experts welcome amendments related to withholding tax hike, other measures in Finance bill

With the Finance Bill 2023 having been passed in Lok Sabha through voice vote, it has suggested a slew of amendments namely hike in the withholding tax from 10 per cent to 20 per cent on royalty and fees for technical services payments to non-residents and waiver of surcharge on capital gains earned by GIFT Category III.

March 24, 2023

Finance Bill, 2022 and Appropriation Bill, 2022 approved and returned by Rajya Sabha

The Finance Minister defended faceless assessment by the income tax department saying it disallowed scope for personal discretion.

March 30, 2022

Finance Bill proposes amendments for enabling FPIs to subscribe to listed debt of REITs, InvITs

The amendments will confer the power to Pooled Investment Vehicles (defined to include AIFs, REITs, InvITs etc) to borrow and issue debt securities.

February 12, 2021

Lok Sabha passes Finance Bill without discussion

Soon after the House assembled at 2 pm -- a first ever move -- it took the Bill moved by Finance Minister Nirmala Sitharaman for consideration and passing.

March 23, 2020

Government gives clarification on definition of NRI under Finance Bill 2020

In the case of an Indian citizen who becomes deemed resident of India under this proposed provision, income earned outside India by him shall not be taxed in India unless it is derived from an Indian business or profession, it said.

February 2, 2020

KPR Mills withdraw share buyback proposal

The buyback route would help companies avoid dividend distribution tax (DDT) until recently when an additional tax of 20 per cent in case of buyback of shares by listed companies was proposed in the Finance Bill.

July 12, 2019

Pakistan parliament passes Rs. 7.022 trillion federal budget

The finance bill now needs presidential approval to become effective from July 1 when the country's new financial year will begin.

June 29, 2019

Institutions in crisis-I

The festive season is over. We are into a remarkably long election season with five State elections which will culminate in the Grand Battle of the Ballot in 2019. The Government made a fervent pitch for return to simultaneous elections at multiple levels across the country. Though a 1983-vintage suggestion of the Election Commission of...

November 24, 2018

Parliamentary Polluters

That the recently concluded Budget session of Parliament was the worst in terms of productivity in a decade cannot be contested. That it could be abducted and held to ransom by clumps of agitating MPs who ran amok, was shocking. The Prime Minister, addressing BJP MPs on the party’s Foundation Day, accused his bete noire,...

April 12, 2018

Government strangling democracy by not discussing Finance Bill: Congress

The Congress on Wednesday accused the Narendra Modi government of “strangling democracy” and said it was the BJP’s conspiracy to pass all important bills including the Finance Bill without debate and discussion. “It is a black day for democracy. The most important bill of the Finance Ministry was passed but there was no discussion, no...

March 15, 2018

Modi govt trying to bulldoze financial business, oppn tells Speaker

The opposition on Tuesday complained to Lok Sabha Speaker Sumitra Mahajan that the Narendra Modi government was trying to bulldoze the entire financial business without a discussion on it and was “hell bent” on passing the Finance Bill “without proper scrutiny”. A letter to the Speaker signed by a number of leaders from different opposition...

March 14, 2018

Stand-off cemented

Confrontation is the new norm of the political game. And, as recent events would confirm, the BJP/NDA plays it with cynical relish ~ despite the shouting of  sabka saath sabka vikas from every available platform. The summary use of the numbers in the treasury benches in the Lok Sabha to reject the amendments to the...

April 1, 2017

Lok Sabha rejects Rajya Sabha amendments to Finance Bill

The Lok Sabha on Thursday rejected the amendments proposed to the Finance Bill 2017 by the Rajya Sabha with Finance Minister Arun Jaitley saying that he could not accept the amendments suggested by the upper house. Replying to a short debate on the amendments in the Lok Sabha, the Minister said: "I can't accept five...

March 30, 2017

Lok Sabha takes up amendments to Finance Bill

The Lok Sabha on Thursday took up for discussion the amendments to the Finance Bill recommended by the Rajya Sabha. Congress leader Deepender Singh Hooda, initiating the debate, said: "The rights of the Rajya Sabha were attacked. Now the Rajya Sabha has amended the Finance Bill and it is for the first time as far...

March 30, 2017

Confident govt gets bulk of financial business cleared

Parliament last week cleared much of its vital Budget Session agenda when the Lok Sabha passed the Finance Bill, 2017, along with two Appropriation Bills, and approved Demands for Grants of Central Ministries. The two Appropriation Bills, which take care of the supplementary demands for 2016-17 and fresh demands for 2017-18, were later returned by...

March 26, 2017

Jaitley moves Finance Bill 2017 for passage in Lok Sabha

Finance Minister Arun Jaitley on Tuesday moved the Finance Bill, 2017, for consideration and passage in the Lok Sabha, saying that since it provides for electoral bonds, it required consideration as a Money Bill, which can only be debated in the Lower House. A Finance Bill is ordinarily introduced to give effect to the financial...

March 21, 2017