- The Union Cabinet on Tuesday gave ex-post facto approval for the Government amendments to the Finance Bill, 2021. The bill has already been enacted as Finance Act 2021.
- “The amendments were essential to clarify and rationalise the proposals further and address stakeholders’ concerns arising out of amendments proposed in the Finance Bill,” a statement issued by the Government said.
- The amendments will provide equity and inclusiveness to all the taxpayers by addressing stakeholders’ concerns arising out of amendments proposed in the Bill, it further said..
- The Government amendments to the Finance Bill, 2021 are tax proposals which shall generate timely revenue for the Government and streamline existing provisions by addressing grievances of the taxpayers.
Source -The Hindu