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Home Breaking News

Cabinet gives ex-post facto approval for amendments to Finance Bill, 2021

The Union Cabinet on Tuesday gave ex-post facto approval to the official amendments to the Finance Bill, 2021, which were aimed at clarifying and rationalising tax proposals for 2021-22.

by NavJeevan
4 years ago
in Breaking News, National, taxation
Reading Time: 1 min read
0
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Finance Minister announces free foodgrains for 8-crore migrant workers for 2 months

Finance Minister Nirmala Sitharaman. NE FILE PHOTO

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NE NEWS SERVICE
NEW DELHI, APR 20

The Union Cabinet on Tuesday gave ex-post facto approval to the official amendments to the Finance Bill, 2021, which were aimed at clarifying and rationalising tax proposals for 2021-22.

The amendments were essential to clarify and rationalise the proposals further and address stakeholders’ concerns arising out of the proposals enumerated in the Finance Bill.

#Cabinet approves Amendments to the Finance Bill, 2021

Details:https://t.co/hDpIwBghJ6#CabinetDecisions pic.twitter.com/OQBLGESwNv

— Ministry of Information and Broadcasting (@MIB_India) April 20, 2021

The Finance Bill became the Finance Act, 2021 on March 28, 2021 after receiving the President’s nod.

An official release said that the government’s amendments to the Finance Bill, 2021 tried to address the concerns of the stakeholders with regard to the tax proposals for the fiscal.

The amendments to the Finance Bill, 2021 were primarily aimed at generating timely revenue for the exchequer and addressing the issues flagged by taxpayers and other stakeholders.

Tags: 2021Cabinet givesex-post facto approvalfor amendmentsto Finance Bill
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