Page 3 - Latest Updates on Finance Bill
Publishing confidential export-import data may now lead you to jail
The FY23 Budget has proposed to introduce section 135AA in the customs act through the Finance Bill for "protection of data".
 "Publishing confidential export-import data may now lead you to jail")
Budget 2022-23: Directors may face tax recovery heat, say experts
The proposal in the Finance Bill to amend provisions of Section 179 of the Income Tax (I-T) Act from April 1, 2022, could increase risks for directors of medium and small-sized firms, said experts.
 "Budget 2022-23: Directors may face tax recovery heat, say experts")
Budget 2022: Full text of Finance Bill as tabled in Lok Sabha by FM
Here is the full text of the Finance Bill as tabled in Lok Sabha by Finance Minister Nirmala Sitharaman
 "Budget 2022: Full text of Finance Bill as tabled in Lok Sabha by FM")
Budget 2022: Full text of the memorandum of the Finance Bill tabled in LS
Here is the full text of the memorandum of the Finance Bill as tabled in Lok Sabha by Finance Minister Nirmala Sitharaman
 "Budget 2022: Full text of the memorandum of the Finance Bill tabled in LS")
What is Money Bill?
Money Bill is the most crucial part of any Union Budget. It comes under the Finance Bill and tells us about taxation and government spending. Our next report tells us more about Money Bill
 "What is Money Bill?")
What is the annual Union Budget?
The country is keenly waiting for the Union Budget which will be tabled on February 1. But what are its major components? Why does the govt conduct this annual exercise? Find the answers here
 "What is the annual Union Budget?")
Govt likely to introduce 2 key financial sector bills in winter session
The two key financial sector bills may include the proposed law for facilitating privatisation of public sector banks
 "Govt likely to introduce 2 key financial sector bills in winter session")
Cabinet gives ex-post facto approval for amendments to Finance Bill, 2021
The amendments were aimed at clarifying and rationalising tax proposals for 2021-22.
 "Cabinet gives ex-post facto approval for amendments to Finance Bill, 2021")
Finance Act fails to address industry concerns over equalisation levy
Experts say levy will cause compliance problems for taxpayers, having come so late. Companies will have to do a lot of adjustments in their own systems while trying to comply with this newly clarified
 "Finance Act fails to address industry concerns over equalisation levy")
Finance Bill amendment eases Mauritius funds' path for India shift
Experts reckon up to 10 per cent of such funds could shift to the IFSC
 "Finance Bill amendment eases Mauritius funds' path for India shift")
Finance Bill: Asset distribution to partners will attract capital gains tax
Various courts and tax authorities have ruled both in favour and against imposition of capital gains in such cases.
 "Finance Bill: Asset distribution to partners will attract capital gains tax")
Amendments to the Finance Bill 2021 plug tax loophole in slump sale
Amendments to the finance Bill, 2021, say that fair market value (FMV) will be taken as consideration of the sale
 "Amendments to the Finance Bill 2021 plug tax loophole in slump sale")
Duty revisions after Oct to come with sunset clause, says FM Sitharaman
Government will rationalise customs duties after consultations, says finance minister
 "Duty revisions after Oct to come with sunset clause, says FM Sitharaman")
Finance Bill has amendments to improve ease of doing business: Sitharaman
Sitharaman on Wednesday said that the Finance Bill,2021 has some amendments aimed at achieving a reduction in compliance and improving ease of doing business
 "Finance Bill has amendments to improve ease of doing business: Sitharaman")
Rajya Sabha returns Finance Bill 2021, completing Par approval for Budget
The Rajya Sabha on Wednesday returned the Finance Bill 2021 without any new amendment
 "Rajya Sabha returns Finance Bill 2021, completing Par approval for Budget")
Lok Sabha passes Finance Bill 2021, giving effect to proposals of govt
The Lok Sabha on Tuesday passed the Finance Bill, 2021, which gives effect to the financial proposals of the central government for the financial year 2021-22.
 "Lok Sabha passes Finance Bill 2021, giving effect to proposals of govt")
A dive into five contentious issues contained in Finance Bill, 2021
Govt may have to respond to concerns over equalisation levy, exporters issues, definition of the term 'liable to tax' and taxability of interest on employees' EPF contributions exceeding Rs 2.5 lakh
 "A dive into five contentious issues contained in Finance Bill, 2021")
Exporters get the shivers from two provisions in Finance Bill 2020
They are worried that the two proposals would make it difficult to seek refunds under indirect tax laws
 "Exporters get the shivers from two provisions in Finance Bill 2020")
Without legislative backup, govt must not amend rules
The GST Council should prevail on the government to avoid such practices as they lead to unnecessary litigation
Full text of Finance Minister Nirmala Sitharaman's Budget speech in LS
Here is the full text of the Budget speech of FM Sitharaman in Lok Sabha
 "Full text of Finance Minister Nirmala Sitharaman's Budget speech in LS")
