Finance Bill 2023 Amendments PDF Summary
Dear readers, here we are offering Finance Bill 2023 Amendments pdf to all of you. Amendments simply refer to the changes and the Finance Bill Amendments mean the changes in Finance Bill 2023. The taxpayers of India should know about these amendments. The Lok Sabha on Friday passed the Finance Bill 2023 with 64 official amendments. In the amendments that have been approved, relief has been given to taxpayers adopting the new tax system.
Amendments in the Finance Bill- 2023 have been approved by the Lok Sabha. It has been proposed that mutual funds with less than 35% exposure to domestic equity will be taxed. This is because short-term capital gains have a direct impact on debt funds. Apart from this, there are many other categories like International Funds, Gold Funds, and even Hybrid Funds which will be covered under this provision. However, it is important which categories will remain out of the purview of this category.
Finance Bill 2023 Amendments pdf
While moving the Finance Bill 2023 in the Lok Sabha for consideration and passage, the minister also said the RBI will look into the issues related to credit card payments for foreign tours not being captured under Liberalised Remittances Scheme (LRS).
- Representations have been received that the national pension system for government employees needs to be improved, Sitharaman said.
- “I propose to set up a committee under the finance secretary to look into this issue of pension and evolve an approach which addresses the need of employees while maintaining fiscal prudence to protect the common citizens. The approach will be designed for adoption by both central and state governments,” the minister said.
- The minister further said it has come to notice that payment for foreign tours through credit cards are not being captured under LRS and such payments escape tax collection at source.
- “RBI is being requested to look into this with a view to bringing credit card payments for foreign tours within the ambit of LRS and tax collection at the source there on,” she announced.
- Several opposition members were in the well of the House raising slogans demanding the setting up of a joint parliamentary committee probe into the allegations against the Adani group of companies.
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