The Finance Minister today (7th May 2012) introduced amendments to the Finance Bill 2012. The text of the amendments is available.
Download Amendments To Finance Bill 2012 As Introduced In Parliament (341.4 KiB, 10,237 hits)
Download Amendments To Finance Bill 2012
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[…] Circular No. 3 of 2012 dated 12.06.2012 a supplementary Memorandum explaining the official amendments moved in the Finance Bill 2012 as reflected in the Finance Act, 2012 has been […]
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[…] Finance Bill 2012 (original) as amended by the amendments made on 7.5.2012 and passed by the Lok Sabha on 8.5.2012 is available for […]
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[…] following is the speech delivered by Shri. Pranab Mukerjee, Finance Minister, while moving the amendments to the Finance Bill 2012 on 7th May […]
Shri. Pranab Mukerjee, Finance Minister of India has done well by deferring GAAR by one year and also shifting the onus to the department. The GAAR provisions should apply in case where the arrangement has been entered into for tax evasion and not simply in cases where tax benefits has been the object. If the tax benefit is within the provisions of law, why GAAR should apply. The Government should not interefere where claim of tax benefit is bonafide.