 "What is Finance Bill?")
Finance Bill
What is Finance Bill?
When a piece of legislation is yet to be passed as a law by the Houses of Parliament, it is termed a Bill. A Finance Bill is a Bill that, as the name suggests, concerns the country's finances — it could be about taxes, government expenditures, government borrowings, revenues, etc. Since the Union Budget deals with these things, it is passed as a Finance Bill.
Rule 219 of the Rules of Procedure of Lok Sabha states: ‘Finance Bill’ means the Bill ordinarily introduced in each year to give effect to the financial proposals of the Government of India for...
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Latest Updates on Finance Bill
Banks should bring in innovative products to mobilise deposits: Sitharaman
The banks, she stressed, need to focus on core banking business which is mobilising deposits
 "Banks should bring in innovative products to mobilise deposits: Sitharaman")
FAITH urges govt to withdraw TCS hike on packages announced in Finance Bill
Tourism and hospitality body FAITH on Tuesday urged the government to roll back the increase in Tax Collected at Source on overseas tour packages announced in the Finance Bill 2023
 "FAITH urges govt to withdraw TCS hike on packages announced in Finance Bill")
Parliament completes Budgetary exercise for FY 2023024 amid ruckus
Parliamentary approval for Budget for 2023 was completed after LS passed the Finance Bill with a fresh amendment and RS gave its nod without any debate amid continuing din over the Adani issue
 "Parliament completes Budgetary exercise for FY 2023024 amid ruckus")
Parliament approves Budget for 2023-24 amid ruckus by Opposition
The Finance Bill was passed in the Lok Sabha with 64 official amendments on March 24 and was sent to the Rajya Sabha
Aditya Birla Sun Life tanks 12% in 2 days; stock hits record low
Finance Bill 2023 has introduced an amendment that will classify capital gains arising from debt mutual funds as only short-term capital gains.
 "Aditya Birla Sun Life tanks 12% in 2 days; stock hits record low")
Tax treatment
Major changes without debate should be avoided
 "Tax treatment")
BS Weekend Bites: Crises, Finance Bill, Rahul, and PhysicsWallah in winter
In which we munch over the week's platter of news and views
 "BS Weekend Bites: Crises, Finance Bill, Rahul, and PhysicsWallah in winter")
Finance Bill: Withholding tax on royalty and technical fee doubled to 20%
The decision is part of the 64 amendments introduced through the Finance Bill 2023
 "Finance Bill: Withholding tax on royalty and technical fee doubled to 20%")
Finance Bill 2023: Govt to scrap LTCG tax benefits on debt mutual funds
Lok Sabha passes Finance Bill with 64 amendments
 "Finance Bill 2023: Govt to scrap LTCG tax benefits on debt mutual funds")
Proposed tax rejig may trigger outflow from debt MFs into equity: Analysts
The proposed amendment will also affect gold funds and international funds, analysts said, who believe that bank FDs will become more attractive
 "Proposed tax rejig may trigger outflow from debt MFs into equity: Analysts")
Finance Bill 2023: STT hike on F&O likely to make a dent in volumes
Sebi study for FY22 had shown that 9 out of 10 F&O traders had incurred losses
 "Finance Bill 2023: STT hike on F&O likely to make a dent in volumes")
Government proposes tax relief for REITs and InVITS in Finance Bill 2023
The Finance Bill had earlier proposed to tax distribution from business trust as income from other sources at applicable rate
 "Government proposes tax relief for REITs and InVITS in Finance Bill 2023")
Taxing capital: Withdrawal of debt LTCG benefits should have been debated
The govt's step could push investors to choose riskier equity, or to fall back on bank deposits, thereby negatively impacting the debt market which actually needs to grow, writes T N Ninan
Experts welcome changes related to withholding tax hike in Finance bill
As per the Finance Bill, specified mutual funds where at least 65 per cent investment are in equity shares of domestic companies are also included in scope of the above deeming provision
Finance Bill: No respite for startups as Angel Tax effective from Apr 2024
Previously, many stakeholders had suggested the exclusion of investments from foreign companies in startups from the Angel Tax regime
 "Finance Bill: No respite for startups as Angel Tax effective from Apr 2024")
Taxpayers with income over Rs 7 lakh to get relief under new tax regime
The government has brought in amendments to the Finance Bill 2023, which has given 'marginal relief' to those taxpayers with annual income a little over Rs 7 lakh
Finance Bill: Centre hikes STT on futures and options trading by up to 25%
STT was introduced in 2004 and is levied on transactions involving different types of securities through the stock exchange route
 "Finance Bill: Centre hikes STT on futures and options trading by up to 25%")
STT hike to GST appellate tribunal: Key takeaways from Finance Bill 2023
Finance Bill 2023: Debt funds with less than or equal to 35 per cent invested in equity shares will be taxed at the investors' income tax slab and treated as short-term capital gains
 "STT hike to GST appellate tribunal: Key takeaways from Finance Bill 2023")
Finance Bill: How will new Mutual Fund rules impact investors from April 1?
New Mutual Fund rules: All existing investments and new investments made in debt MFs before March 31 will not be affected by the proposed mutual fund tax change
 "Finance Bill: How will new Mutual Fund rules impact investors from April 1?")
Lok Sabha passes Finance Bill with 64 official amendments with discussion
While moving the bill for passage and consideration, finance minister Sitharaman also announced the setting up of a committee under finance secretary to look into pension issues of government employee
 "Lok Sabha passes Finance Bill with 64 official amendments with discussion")