Union Government has proposed several amendments to Finance Bill 2017 presented in Lok Sabha on 01.02.2017 by introducing notice of amendment to finance bill 2017 Lok Sabha on 01.02.2017.

Some of the important amendment proposed are as follows :-

1. Appointment of, and remuneration to, the ITAT Member

2. Make Aadhar card mandatory for filing income-tax returns and PAN.

3. Amendments to around 40 Acts and some of them includes the following:-

  1. Securities and Exchange Board of India Act,  1992
  2. Consumer Protection Act, 1986
  3. Administrative Tribunals Act, 1985
  4. Income Tax Act,
  5. Cinematograph Act,
  6. Customs Act, 1962
  7. Recovery of Debts Due to Banks and Financial Institutions Act,
  8. Electricity Act,
  9. Armed Forces Tribunal Act 2007
  10. National Green Tribunal Act 2010
  11. Security Contracts (Regulation) Act, 1956
  12. Depositories Act, 1996
  13. Companies Act, 2013

Sitaram Yechury said that “Several bills have been smuggled into the Finance Bill this time including the RBI and Representation of People’s Act. This is a subversion of the Constitution, to bypass Rajya Sabha as Finance Bill is a money bill. This exposes govt’s anti-democratic methods.”

Download Amendments to Finance Bill 2017 As Introduced In Lok Sabha

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One response to “Download Amendments to Finance Bill 2017 As Introduced In Lok Sabha”

  1. Edwin Francis D'Silva says:

    “Unsettled waters ahead for non-resident Indian sailors?”
    Dear Sir, After reading the above article on the tax liability of Indian seafarers I seek your assistance in clarifying my confusion. I am an Indian Seafarer, employed by a Foreign company and serving on Singapore flagged ships. My salary is credited to my account in Singapore as has been the practice since I was first employed by them nearly 29 years ago. By the nature of my contract I clearly fulfill the NRI status of being out of India for over 183 days in a Financial year. My salary is credited to my savings account in Singapore from which I make periodic transfers of funds to my NRE account in India. I will appreciate your learned advice on whether I would be liable to Income tax in India. As it happens, the Singapore government exempts seafarers (including Singapore nationals) from Income tax.
    Thanks in advance.
    Sincerely

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