Lok Sabha has passed the Finance Bill, 2021 on 23rd March 2021 with 109 amendments to the initial Finance Bill introduced in the Parliament on 01.02.2021 by Finance Minister Smt. Nirmala Sitaraman. Out of 109 amendments, 49 are related to Income Tax.
The salient features of the bill include:
-Reduced compliance burden for senior citizens of age 75 years & above
-Tax incentives for Affordable Housing and Affordable Rental Housing Project
-Reduction in Time Limits of Reopening of Assessment
-Setting up of Dispute Resolution Committee (DRC)
-Faceless Income Tax Appellate Tribunal (ITAT)
-Tax benefit for Start-ups
Copy of Finance Bill, 2021 as Passed by Lok Sabha on 23.03.2021 is available for download.
Download Copy of Finance Bill, 2021 as introduced in the Lok Sabha on 1st February 2021.
Also, download Memorandum Explaining the Provisions of the Finance Bill, 2021.
Read the 109 amendments proposed in the Finance Bill, 2021 as passed in Lok Sabha.
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