Cabinet approves Amendments to Finance Bill 2021
The Union Cabinet chaired by Prime Minister Narendra Modi on Tuesday granted ex-post approval for the Government's amendments to the Finance Bill, 2021 (enacted as the Finance Act, 2021 on March 28, 2021).
The amendments were essential to clarify and rationalize the proposals further and address stakeholders' concerns arising out of the proposals enumerated in the Finance Bill.
Major Key Points
In particular, amendments to the Bill are tax proposals that will generate timely revenue for the government and streamline the existing provisions by addressing the grievances of the taxpayers.
The Government will provide equity and inclusion to all taxpayers by addressing the concerns of stakeholders arising out of the amendments to the Finance Bill, 2021, and proposed amendments in ...