Financial Daily from THE HINDU group of publications
Wednesday, Dec 21, 2005
Financial Daily from THE HINDU group of publications Wednesday, Dec 21, 2005 |
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Government
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Policy Industry & Economy - Taxation Taxation laws Bill passed Our Bureau
New Delhi , Dec. 20 THE Parliament on Tuesday passed the crucial Taxation Laws (second amendment) Bill, 2005, that sought to, among other things, bring legal validity to the income-tax department's efforts to recover tax on a retrospective basis on certain income arising from sale of duty entitlement passbook scheme (DEPB) scheme. This Bill was passed by a voice vote in the Rajya Sabha on Tuesday, amidst a walkout by the Opposition, which demanded that the Bill be referred to a select committee. The Lok Sabha had already passed this Bill on December 14.
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