Finance Bill Current Affairs, GK & News

Finance Bill

Finance Bill is a yet to be passed legislation focusing on the country’s finances, like taxes, government expenditures, government borrowings, revenues etc. The Union Budget, which deals with these aspects, is passed in the parliament as a Finance Bill. It is passed each year in the parliament to execute the financial proposals of the Indian ..

What is Significant Economic Presence (SEP) principle?

India recently notified Digital Tax threshold of two crore rupees and 300,00 users under the Significant Economic Presence principle. This threshold was notified for non-resident technology firms such as Netflix, Facebook, Google, to pay tax in India. The principle was first introduced in the Finance Bill 2018-19. It was adopted to address the challenges of ..

Month: 

Category: 

Topics: 

Parliament passes Finance Bill 2021

Parliament has passed the “Finance Bill 2021” on March 23, 2021. Bill seeks to bring financial proposals of central government in effect for the financial year 2021-22. Highlights Bill was passed by lower house of the Parliament with several amendments. It proposes for some changes in proposals which were made in union budget 2021 with ..

Month: 

Category: 

Topics: 

Lok Sabha passes Finance Bill

Recently the Lok Sabha has passed the Finance Bill by voice vote without discussion. As per the Lok Sabha’s Rules of Procedure, A Finance Bill is a bill introduced every year to give effect to the financial proposals of the Government for the following financial year. It also includes a bill to give effect to ..

Topics: 

Provisions for SEBI under Finance Bill, 2019

The Finance Bill, 2019 has given more powers to Securities and Exchange Board of India. The key highlight has been the addition of section 15HAA with regards to punitive action for data tampering. SEBI can act against tampering of electronic databases. This is against the backdrop of issues like colocations, HFT/ high frequency trades etc. ..

Topics: 

Amendment to FCRA via Finance Bill Route Controversy

In the first week of April, 2016, the government amended the Foreign Contribution Regulation Act (FCRA), 2010 through the Finance Bill, 2016. The main objective of this amendment was to make way for the political parties to receive donations from foreign companies such as Vedanta as “Indian Source” despite of their being “foreign”. Background The ..

Topics: