Subscribe To Our Free Newsletter:

Download Imp Amendments To Finance Bill 2017 As Introduced In The Lok Sabha

The Government has proposed several landmark amendments to the Finance Bill 2017 including provisions relating to the appointment of, and remuneration to, the ITAT Members. There is also a controversial provision to make the Aadhar card mandatory for filing income-tax returns.

The amendments to the Finance Bill also provides for amendments to the Securities and Exchange Board of India Act, Consumer Protection Act, Administrative Tribunals Act, Income Tax Act, Cinematograph Act, Customs Act, Recovery of Debts Due to Banks and Financial Institutions Act, Electricity Act, Armed Forces Tribunal Act 2007 and the National Green Tribunal Act 2010 to bring the pay, qualifications, appointment, term of service, resignation, removal and terms and conditions of service under the Finance Act, Section 179.

It may be recalled that the government began the process of merging tribunals earlier, with NCLT and its appellate body subsuming within them the board for industrial and financial reconstruction, its appellate authority and the company law board. It also introduced one permanent tribunal for interstate water disputes by merging existing ad-hoc bodies.


4 comments on “Download Imp Amendments To Finance Bill 2017 As Introduced In The Lok Sabha
  1. C.V.VERGHESE says:

    Tax terrorism will increase. As Palkiwala said ” Power to tax includes power to destroy also”

  2. Rashmi Dave says:

    Bills which are not purely Money Bills are also added to the Finance Bill to clear these bills as Money Bill and not to take Bicameral Approval, which is otherwise require….this method is not a democratic one

  3. N. Devanthan says:

    The corruption starts with income tax I mean corrupting the purity of income tax Act. It is no longer income tax Act.
    People will feel that courts with boldness can save the assessee/nation People may feel that they can do business outside india. The impact on foreign investments may be seen

    kumar

  4. Problem today is FM is over bearing and he thinks he can make and unmake – factual position is law makers can never assume so much authority, when they tackle issues of 125 crores of indians, many among the people are much better educated to assess what is right on their rights than these great ‘buffons’ and their buffonery.

Leave a Reply

Your email address will not be published. Required fields are marked *

*


If you are a tax professional, you must sign up for our free newsletter. Why? Because we keep you informed about the latest developments in the world of tax. We focus only on the most important must-read judgements & articles that will impact your day-to-day professional work. You can see a chronological listing of all our postings on twitter & facebook


IMPORTANT: After signing up & clicking on the confirmation mail, send a test/ blank mail to editor@itatonline.info. Why? Because it is the easiest way to add our email address to your address/ contacts book and ensure that our Newsletter does not get sent to the Spam/ Junk folder


Email



Unsubscribe