Rajya Sabha approves Tax Amendment bill to end retrospective taxation
3 years, 4 months ago

Rajya Sabha approves Tax Amendment bill to end retrospective taxation

Live Mint  

A bill that aims to end all retrospective taxation imposed on indirect transfer of Indian assets was approved by Rajya Sabha on Monday amid continuous protests by the opposition. Rajya Sabha on Monday took up The Taxation Laws Bill, 2021, with Opposition Congress, DMK and TMC staging a walkout, saying adequate time was not given to them to prepare for a discussion on the proposed legislation. Now, after Rajya Sabha's approval on 'The Taxation Laws Bill, 2021', all tax demands made on companies like Cairn Energy and Vodafone using a 2012 legislation on indirect transfer of Indian assets prior to May 28, 2012 will be withdrawn. In the meanwhile, Finance Minister Nirmala Sitharaman moved The Taxation Laws Bill for consideration and return.

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Parliament Winter Session 2024 highlights Day 14: MoS Nityanand Rai responds to discussion on Disaster Management (amendment) Bill in Lok Sabha
1 week, 5 days ago

Parliament Winter Session 2024 highlights Day 14: MoS Nityanand Rai responds to discussion on Disaster Management (amendment) Bill in Lok Sabha

The Hindu  

This live is closed The Opposition’s no-confidence notice against Rajya Sabha Chairman Jagdeep Dhankhar led to disruptions at the Upper House today too, a day after the Rajya Sabha saw no business and was washed out after clashes between the government and the Opposition over the notice and also the BJP’s allegations of Congress’ link with biliionaire George Soros. Among …

Nirmala Sitharaman on LTCG amendment: 'We have courage to change'
4 months, 2 weeks ago

Nirmala Sitharaman on LTCG amendment: 'We have courage to change'

Hindustan Times  

Finance minister Nirmala Sitharaman said that the new amendments to Finance Bill 2024 will not impose any additional tax burden concerning the long-term capital gains tax on real estate sales. Replying to the House discussion on the Finance Bill in the Lok Sabha, the minister said: “Every time we present the Budget…I have gone around the country to various destinations, …

Capital gains tax on real estate: Lok Sabha passes Finance Bill, amends LTCG tax provision on immovable properties
4 months, 2 weeks ago

Capital gains tax on real estate: Lok Sabha passes Finance Bill, amends LTCG tax provision on immovable properties

The Hindu  

The Finance Bill 2024 was passed in the Lok Sabha on Wednesday with an amendment relaxing the recently introduced new capital gains tax on real estate. The amendment comes after a proposal to remove indexation benefit in calculation of long-term capital gains on sale of immovable properties in the Budget 2024-25 had evoked criticism from various corners, including Opposition parties …

Parliament Monsoon Session: Lok Sabha passes Finance Bill 2024
4 months, 2 weeks ago

Parliament Monsoon Session: Lok Sabha passes Finance Bill 2024

India TV News  

Parliament Session: The Lok Sabha today passed the Finance Bill 2024 after the government relaxed the just-introduced new capital gains tax on real estate, allowing taxpayers an option to switch to a new lower tax rate or stay with the old regime that had higher rate with indexation benefit. Finance Minister Nirmala Sitharaman, who in her Budget for 2024-25 proposed …

Union Budget 2024 reforms of the new tax regime may reduce tax burden and allow option to choose again
5 months ago

Union Budget 2024 reforms of the new tax regime may reduce tax burden and allow option to choose again

Hindustan Times  

Finance Minister Nirmala Sitharaman presented the Union Budget 2024 in the parliament on July 23, proposing new changes in the income tax slabs of the new tax regime. Nirmala Sitharaman pictured at the Lok Sabha on July 23, with the Union Budget What are the latest income tax slabs in the new tax regime? Up to ₹3 lakh: NIL ₹3-7 …

Parliament Budget Session Updates | Lok Sabha, Rajya Sabha adjourned sine die
10 months, 2 weeks ago

Parliament Budget Session Updates | Lok Sabha, Rajya Sabha adjourned sine die

The Hindu  

February 10, 2024 10:54 am | Updated 06:49 pm IST Lok Sabha on Saturday took up a discussion on the construction of Ram Temple and the consecration ceremony held in Ayodhya on January 22. Meanwhile, Rajya Sabha took up a discussion on the ‘White Paper’ on the economy which ended with Finance Minister’s statement. The BJP issued a whip to …

Parliament Winter Session Live Updates Day 13
1 year ago

Parliament Winter Session Live Updates Day 13

The Hindu  

December 20, 2023 18:06 Central Goods and Services Tax Bill, 2023 returned by RS through voice vote “It was a simple amendment but a very important one,” says Finance Minister Nirmala Sitharaman. Advocates with 10 years of experience in the courts will also be eligible to be appointed — it was a fair suggestion from the Supreme Court, so we …

Rajya Sabha passes 2 bills amid protests by opposition MPs over security breach
1 year ago

Rajya Sabha passes 2 bills amid protests by opposition MPs over security breach

Hindustan Times  

The Rajya Sabha on Monday passed the Jammu and Kashmir Reorganisation Bill, 2023, and the Government of Union Territories Bill 2023 amid protests by Opposition MPs over the December 13 Parliament security breach. Following a brief discussion, where MPs including the BJD’s Sasmit Patra, BJP’s Kavita Patidar, and YSR Congress’ Vijaysai Reddy expressed support for the bills, Reddy advocated extending …

Parliament Winter Session Live Updates Day 8: Security breach in Parliament
1 year ago

Parliament Winter Session Live Updates Day 8: Security breach in Parliament

The Hindu  

Two intruders barged into the chambers of the lower house unlawfully and threw objects that emitted fluorescent gas. The two men, believed to be in their late 20s, are said to have received their passes from BJP MP from Mysore, Pratap Simha, as learnt from some Lok Sabha MPs. The discussion largely took place in the absence of Opposition members, …

Parliament Winter Session Live Updates Day 7
1 year ago

Parliament Winter Session Live Updates Day 7

The Hindu  

The Rajya Sabha on Tuesday passed the Chief Election Commissioner and other Election Commissioners Bill, 2023, through a voice vote. In the Lok Sabha, the Finance Minister Nirmala Sitharaman responded to the discussion on supplementary demand for grants, which started yesterday. With the passage of the grants, payments bills, Lok Sabha passed the the Union Territories Bill, 2023 and the …

Day after govt moves SC, Punjab governor gives approval to table two Bills in assembly
1 year, 1 month ago

Day after govt moves SC, Punjab governor gives approval to table two Bills in assembly

Hindustan Times  

Punjab governor Banwarilal Purohit has given his approval to two of the three Bills sent to him, days after he wrote to chief minister Bhagwant Mann, saying he would examine the proposed laws on merit before allowing it to be tabled in the assembly. The approval comes after Punjab governor Banwarilal Purohit, in his October 29 letter to chief minister …

Parliament Monsoon Session: After LS, Rajya Sabha Passes Delhi Services Bill; Kejriwal Slams Centre's 'Arrogant & Backdoor' Move
1 year, 4 months ago

Parliament Monsoon Session: After LS, Rajya Sabha Passes Delhi Services Bill; Kejriwal Slams Centre's 'Arrogant & Backdoor' Move

News 18  

Parliament Monsoon Session Updates: The Rajya Sabha passed the Government of National Capital Territory of Delhi Bill, 2023 after House members voted in support with 131 in favor and 102 against. In a victory for the Opposition, Lok Sabha membership of Congress leader Rahul Gandhi was restored on Monday after the Supreme Court stayed his conviction in the ‘Modi’ surname …

Amit Shah tables Delhi Services Bill in Rajya Sabha, debate begins after frequent adjournments
1 year, 4 months ago

Amit Shah tables Delhi Services Bill in Rajya Sabha, debate begins after frequent adjournments

India TV News  

Delhi Services Bill: Union Home Minister Amit Shah on Monday moved the Government of National Capital Territory of Delhi Bill, 2023, in Rajya Sabha. The Government of National Capital Territory of Delhi Bill, 2023, has already been passed by Lok Sabha. To allow a discussion on the Government of National Capital Territory of Delhi Bill, the opposition briefly suspended its …

Amit Shah to move Delhi Services Bill in Rajya Sabha on August 7
1 year, 4 months ago

Amit Shah to move Delhi Services Bill in Rajya Sabha on August 7

India TV News  

Union Home Minister Amit Shah will move the Government of National Capital Territory of Delhi Bill, 2023, in Rajya Sabha on August 7. Earlier on August 3, the Lok Sabha passed the Bill to replace the ordinance on transfers and postings of senior officers in the Delhi government. According to a report of PTI, a source said that Senior Congress …

Monsoon Session: Delhi Services Bill to be introduced in LS today
1 year, 4 months ago

Monsoon Session: Delhi Services Bill to be introduced in LS today

Deccan Chronicle  

New Delhi: Amid the continuing logjam in both Houses over the Manipur situation, the Parliament will reconvene on Tuesday with the contentious Government of National Capital Territory of Delhi Bill, 2023, over control of services in the national capital, likely to be introduced in the Lok Sabha by Union Home Minister Amit Shah. Union Minister of Law and Justice Arjun …

Lok Sabha passes Finance Bill 2023
1 year, 8 months ago

Lok Sabha passes Finance Bill 2023

Deccan Chronicle  

NEW DELHI: Finance minister Nirmala Sitharaman announced the setting up of a committee headed by the finance secretary to look into pension issues of government employees while maintaining fiscal prudence to protect common citizens. She made the announcement while seeking 64 amendments to the Finance Bill 2023, including providing marginal relief to tax payers under the new regime, and removing …

Bill Introduced In Lok Sabha To Repeal 65 Obsolete Laws Including One Enacted 135 Yrs Ago
2 years ago

Bill Introduced In Lok Sabha To Repeal 65 Obsolete Laws Including One Enacted 135 Yrs Ago

Live Law  

The Union Law Minister Kiren Rijiju on Monday introduced in the Lok Sabha the Repealing and Amending Bill, 2022, which seeks to repeal 65 laws which are either obsolete or have become redundant due to operation of other laws. The Bill contains three schedules – the First Schedule lists 24 laws enacted between the years 1885 and 2020 which it …

Parliament Round-Up: VP Naidu's Farewell, 3 Bills Passed & Sine Die Adjournment
2 years, 4 months ago

Parliament Round-Up: VP Naidu's Farewell, 3 Bills Passed & Sine Die Adjournment

The Quint  

Former Vice President and Rajya Sabha Chairman Venkaiah Naidu made his final remarks in the House, saying, "My only appeal to them, to maintain decency, dignity, and decorum so that the image and respect of the House is maintained." Prime Minister Narendra Modi, while giving his farewell speech to the outgoing vice president, said that the Upper House's productivity increased …

Rajya Sabha updates | March 30, 2022
2 years, 8 months ago

Rajya Sabha updates | March 30, 2022

The Hindu  

Tribal Affairs Minister Arjun Munda moved The Constitution Orders Bill, 2022, on March 29, and it will be taken up for consideration and passing today. 4:05 p.m. BJP member opposes Digvijay Singh’s ‘unparliamentary’ words Rajya Sabha witnesses slight commotion after BJP MP Vinay Sahasrabuddhe objected to the alleged usage of “unparliamentary words” by Congress MP Digvijaya Singh during the discussion …

Lok Sabha passes Finance Bill
2 years, 8 months ago

Lok Sabha passes Finance Bill

Deccan Chronicle  

New Delhi: The Finance Bill 2022, moved by finance minister Nirmala Sitharaman, was passed in the Lok Sabha on Friday. The government has reportedly proposed 39 amendments to the Finance Bill, 2022, including changes to the crypto tax structure; penalty provisions on publication of import-export data and status of past income computations that claimed deduction of disallowed cess and surcharges. …

Rajya Sabha updates | March 15, 2022
2 years, 9 months ago

Rajya Sabha updates | March 15, 2022

The Hindu  

On the first day of the second part of the Budget session, members of the Upper House saw took up a discussion on the working of the Ministry of Development of North Eastern Region. Under the GST law, states were guaranteed a bi-monthly compensation for any loss of revenue incurred during the first five years of the implementation of GST …

Parliament proceedings updates | November 29, 2021
3 years ago

Parliament proceedings updates | November 29, 2021

The Hindu  

The Farm Laws Repeal Bill, 2021, was passed in both Houses on the first day of the winter session of the Parliament on November 29. Rajya Sabha | 2:11 pm Rajya Sabha adjourned for 30 minutes Deputy Speaker Harivansh Narayan Singh adjourns the House until 2:38 p.m., amid chaos by Opposition members after their demand for a discussion on the …

Modinomics is Inclusive and Taxation, Tribunal Reforms Were Ushered In Out of Conviction Not Compulsion
3 years, 4 months ago

Modinomics is Inclusive and Taxation, Tribunal Reforms Were Ushered In Out of Conviction Not Compulsion

News 18  

“Our government is ready to take the biggest risk in the interest of the nation. The Taxation Laws Bill provides for the withdrawal of tax demand made on ‘indirect transfer of Indian assets if the transaction was undertaken before May 28, 2012.’ Rules will be framed under the law giving a reasonable timeframe for the companies to come and give …

Parliament proceedings updates | Opposition claims war-like situation in Rajya Sabha
3 years, 4 months ago

Parliament proceedings updates | Opposition claims war-like situation in Rajya Sabha

The Hindu  

A constitutional amendment bill to restore the powers of the States to make their own OBC lists was passed by Parliament on Wednesday. Rajya Sabha | 4.00 pm Include Dalit Muslims and Dalit Christians in SC list: Abdul Wahab Abdul Wahab says he was surprised the government brought this Bill in this session. Rajya Sabha | 3.35 pm Reservation is …

India’s sovereign right to tax intact after amendment: FM
3 years, 4 months ago

India’s sovereign right to tax intact after amendment: FM

Live Mint  

Finance minister Nirmala Sitharaman on Monday told the Rajya Sabha that the amendment to the 2012 retrospective income tax law will not dilute India’s sovereign right to tax. The Rajya Sabha on Monday passed the bill scrapping the retrospective amendment that had sparked a flurry of litigation, including international arbitration by Vodafone Plc and Cairn Energy Plc, which India lost …

Scrapping Retrospective Tax a Welcome Move, But Why Did It Come So Late?
3 years, 4 months ago

Scrapping Retrospective Tax a Welcome Move, But Why Did It Come So Late?

The Quint  

In a big move to end "tax terror", Finance Minister Nirmala Sitharaman introduced the Taxation Laws Amendment Bill in the Lok Sabha to scrap the draconian retrospective tax amendment of 2012 that had made indirect transfer of Indian assets prior to 2012 taxable. The government said, "The Bill proposes to amend the Income Tax Act, 1961, to provide that no …

US body hails Indian govt's move to withdraw retrospective tax law
3 years, 4 months ago

US body hails Indian govt's move to withdraw retrospective tax law

Firstpost  

Yesterday’s Bill introduced by the Finance Ministry will only encourage more international investments into India and is a welcome relief for companies who have long invested in the country US-India Strategic and Partnership Forum on Thursday applauded the Indian move to withdraw the retrospective law relating to tax on indirect transfers. USISPF applauds India’s move to withdraw the retrospective tax …

US body hails India's move to withdraw retrospective tax law
3 years, 4 months ago

US body hails India's move to withdraw retrospective tax law

The Hindu  

US-India Strategic and Partnership Forum on Thursday, August 5, 2021, applauded the Indian move to withdraw the retrospective law relating to tax on indirect transfers. “USISPF applauds India’s move to withdraw the retrospective tax amendment relating to tax on indirect transfers,” he said in a statement. “The 2012 decision of the UPA government to impose retrospective tax has been a …

US body hails Indian govt's move to withdraw retrospective tax law
3 years, 4 months ago

US body hails Indian govt's move to withdraw retrospective tax law

India TV News  

US-India Strategic and Partnership Forum on Thursday applauded the Indian move to withdraw the retrospective law relating to tax on indirect transfers. “USISPF applauds India’s move to withdraw the retrospective tax amendment relating to tax on indirect transfers,” he said in a statement. “The 2012 decision of the UPA government to impose retrospective tax has been a black mark on …

Centre introduces Bill in Lok Sabha to withdraw retrospective tax demands on Cairn, Vodafone
3 years, 4 months ago

Centre introduces Bill in Lok Sabha to withdraw retrospective tax demands on Cairn, Vodafone

Firstpost  

New Delhi: In a bid to bury the ghost of retrospective taxation, the government on Thursday brought a Bill in the Lok Sabha to withdraw all back tax demands on companies such as Cairn Energy and Vodafone and said it will refund the money collected to enforce such levies. Finance Minister Nirmala Sitharaman introduced ‘The Taxation Laws Bill, 2021’ in …

Centre moves to redact retrospective tax law
3 years, 4 months ago

Centre moves to redact retrospective tax law

The Hindu  

The government on Thursday took the first step towards doing away with the contentious retrospective tax law of 2012, which was used to raise large tax demands on foreign investors like Vodafone and Cairn Energy, and blamed for vitiating India’s investment climate — less than a month after Cairn Energy secured an order from a French court to freeze India’s …

Govt amends Income Tax Act, retrospective tax rule junked
3 years, 4 months ago

Govt amends Income Tax Act, retrospective tax rule junked

India TV News  

In a bid to bury the ghost of retrospective taxation, the government on Thursday brought a bill in the Lok Sabha to withdraw all back tax demands on companies such as Cairn Energy and Vodafone and said it will refund the money collected to enforce such levies. Finance Minister Nirmala Sitharaman introduced 'The Taxation Laws Bill, 2021' in the Lok …

BREAKING : Centre Introduces Taxation Laws Amendment Bill To Nullify Retrospective Tax Demand Provision Brought By Finance Act 2012
3 years, 4 months ago

BREAKING : Centre Introduces Taxation Laws Amendment Bill To Nullify Retrospective Tax Demand Provision Brought By Finance Act 2012

Live Law  

The Union Ministry of Finance on Thursday introduced the Taxation Laws Bill 2021 in the Lok Sabha to nullify the effect of the amendment brought by Finance Act 2012 to impose tax liability on gains arising from indirect transfer of Indian assets with retrospective effect.The 2012 amendment was passed to overturn the Supreme Court verdict in the Vodafone case which …

Rajya Sabha Passes Airports Economic Regulatory Authority of India Amendment Bill
3 years, 4 months ago

Rajya Sabha Passes Airports Economic Regulatory Authority of India Amendment Bill

News 18  

New Delhi: The Rajya Sabha proceedings were adjourned till Thursday amid continuous protests by opposition parties over the Pegasus snooping controversy, and issues of farm laws and price rise. However, the Upper House passed the Airports Economic Regulatory Authority of India Bill, 2021, which seeks to encourage smaller airports to expand air connectivity to relatively remote and far-flung areas. The …

Parliament's Monsoon Session: Uproar on Pegasus row continues, both Houses clear Bills amid Oppn ruckus
3 years, 4 months ago

Parliament's Monsoon Session: Uproar on Pegasus row continues, both Houses clear Bills amid Oppn ruckus

Firstpost  

Rajya Sabha passed The Inland Vessels Bill, 2021, while Lok Sabha passed the General Insurance Business Amendment Bill, 2021 - both amid sloganeering As the Opposition continued to demand the Pegasus surveillance issue and farm laws be discussed in both the Houses, Rajya Sabha and Lok Sabha saw repeated adjournments through the proceedings on Monday with little business except the …

Lok Sabha Passes Finance Bill 2021
3 years, 9 months ago

Lok Sabha Passes Finance Bill 2021

Live Law  

The Lok Sabha on Tuesday passed the Finance Bill, 2021 to give effect to the financial proposals of the Central Government for the financial year 2021-2022. Apart from the Finance Act, the Bill also proposes to amend the Income Tax Act, 1961; Life Insurance Corporation Act, 1956; the Securities Contracts Act, 1956; the Central Sales Tax Act, 1956; the SEBI …

Parliament Passes Arbitration & Conciliation (Amendment) Bill, 2021 For Automatic Stay On Awards Induced By Fraud/ Corruption
3 years, 9 months ago

Parliament Passes Arbitration & Conciliation (Amendment) Bill, 2021 For Automatic Stay On Awards Induced By Fraud/ Corruption

Live Law  

The Rajya Sabha on Wednesday passed the Arbitration and Conciliation Bill, 2021 by voice vote. It seeks to amend the Arbitration and Conciliation Act, 1996 so as to enable automatic stay on awards in certain cases and specify by regulations the qualifications, experience and norms for accreditation of arbitrators. #RajyaSabha passes #Arbitration & Conciliation Bill 2021 to enable automatic stay …

Rajya Sabha Clears Bill For Regularization Of Unauthorized Colonies In Delhi; Extension Of Protection From Sealing/ Demolition Till 2023
3 years, 10 months ago

Rajya Sabha Clears Bill For Regularization Of Unauthorized Colonies In Delhi; Extension Of Protection From Sealing/ Demolition Till 2023

Live Law  

The Upper House of the Parliament today passed the National Capital Territory of Delhi Laws Second Bill, 2020 by voice vote. It was introduced by Minister for Housing and Urban Affairs of India, Hardeep Singh Puri, for extending the time period available with the Government for regularization of unauthorized colonies. Background The Government had enacted the NCT of Delhi Laws …

Monsoon Session: Rajya Sabha Passes 7 Key Bills in Three and Half Hours
4 years, 3 months ago

Monsoon Session: Rajya Sabha Passes 7 Key Bills in Three and Half Hours

News 18  

In one of the most productive days in its history, Rajya Sabha on Tuesday in a matter of three and half hours passed seven key bills including one that removes cereals, pulses and onion from the essential commodities list and another that abolishes penalty for certain offences by companies. The Upper House took up government legislative business after nearly an …

Parliament proceedings updates | September 22, 2020
4 years, 3 months ago

Parliament proceedings updates | September 22, 2020

The Hindu  

Lok Sabha was adjourned for an hour even before Zero Hour mentions after Congress raised the issue of MSP not finding mention in the recently passed agri-Bills. 1.35 pm | Rajya Sabha Rajya Sabha passes the National Forensic Sciences University Bill, 2020 1.30 pm | Rajya Sabha G. Kishan Reddy gives his reply It is Mr. Modi's vision to set …

Parliament monsoon session: What to expect today
4 years, 3 months ago

Parliament monsoon session: What to expect today

Hindustan Times  

A day after fierce protests erupted in Rajya Sabha against the government bulldozing over the Opposition and passing two farm bills, Opposition parties have called a meeting to discuss their joint strategy for Monday, leaders said. On Monday, Rajya Sabha is set to discuss an Opposition- The meeting started at 8.40 am. Opposition parties sat in the Rajya Sabha over …

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