Monday, April 26, 2021

Amendments to the Finance Bill, 2021


Amendments to the Finance Bill, 2021

✅The Union Cabinet gives ex-post facto approval for the Government
amendments to the Finance Bill, 2021 (enacted on 28th March 2021 as the
 Finance Act, 2021 ).

✅The amendments were essential to clarify and rationalize the proposals further and address stakeholders' concerns arising out of amendments proposed in the Finance Bill.

Objective

✅The Government amendments to the Finance Bill, 2021 shall provide equity and inclusiveness to all the taxpayers by addressing stakeholders' concerns arising out of amendments proposed in the Bill.

✅The Government amendments to the Finance Bill, 2021 are tax proposals that shall generate timely revenue for the Government and streamline existing provisions by addressing grievances of the taxpayers.

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