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The Union Cabinet on Tuesday gave ex-post facto approval for the Government amendments to the Finance Bill, 2021. The bill has already been enacted as Finance Act 2021.
“The amendments were essential to clarify and rationalise the proposals further and address stakeholders' concerns arising out of amendments proposed in the Finance Bill,” a statement issued by the Government said.
The amendments will provide equity and inclusiveness to all the taxpayers by addressing stakeholders' concerns arising out of amendments proposed in the Bill, it further said..
“The Government amendments to the Finance Bill, 2021 are tax proposals which shall generate timely revenue for the Government and streamline existing provisions by addressing grievances of the taxpayers,” the statement said.
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