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Union Minister Nirmala Sitharaman speaks in the Lok Sabha during the Budget Session of Parliament, in New Delhi, Tuesday, March 23, 2021. (PTI)

Lok Sabha clears Finance Bill with 127 amendments

By Asit Ranjan Mishra, Gireesh Chandra Prasad, New Delhi
PUBLISHED ON MAR 24, 2021 05:29 AM IST
The amendment means offshore e-commerce platforms don’t have to pay 2% equalization levy, or digital service tax on that portion of goods which are sourced from India.
The changes come after amendments in the Indian Stamp Act, 1899, to bring about uniformity of the stamp duty on securities across the country will come into effect from Wednesday.(Getty Images/iStockphoto)
The changes come after amendments in the Indian Stamp Act, 1899, to bring about uniformity of the stamp duty on securities across the country will come into effect from Wednesday.(Getty Images/iStockphoto)

Stamp duty on mutual funds from 1 July: What you need to know

Hindustan Times, New Delhi | By hindustantimes.com | Edited by Meenakshi Ray
PUBLISHED ON JUL 01, 2020 02:30 PM IST
The government again on March 30 decided to shift its implementation to July 1 due to coronavirus pandemic induced lockdown across the country.
The Lok Sabha and Rajya Sabha were shut on March 24(HT File Photo)
The Lok Sabha and Rajya Sabha were shut on March 24(HT File Photo)

Lok Sabha Secretariat to resume work from Monday

New Delhi | By Press Trust of India
UPDATED ON APR 19, 2020 07:49 PM IST
The Lok Sabha and Rajya Sabha were shut on March 24 after both houses were adjourned sine die following the passage of the Finance Bill for 2020-21, bringing a premature end to the budget session of Parliament, which was slated to conclude on April 3.
New Delhi, India- March 11, 2020: A view of Parliament house during Budget Session in New Delhi, India on Wednesday, March 11, 2020. ( Photo by Sonu Mehta/Hindustan Times)(Sonu Mehta/HT File PHOTO)
New Delhi, India- March 11, 2020: A view of Parliament house during Budget Session in New Delhi, India on Wednesday, March 11, 2020. ( Photo by Sonu Mehta/Hindustan Times)(Sonu Mehta/HT File PHOTO)

Coronavirus update: Both Houses adjourned sine die

Hindustan Times, New Delhi | By Saubhadra Chatterji
PUBLISHED ON MAR 24, 2020 08:46 AM IST
Coronavirus update: While there are several instances of a session being curtailed due to disruptions or political reasons, this is possibly the first time in the history of Parliament that a session was cut short by a grave public health crisis, according to three senior officials.
At present total central levies including Rs 8 per litre additional excise duty on petrol and diesel are Rs 22.98 per litre and Rs 18.83 a litre.(Ramesh Pathania/Mint Photo)
At present total central levies including Rs 8 per litre additional excise duty on petrol and diesel are Rs 22.98 per litre and Rs 18.83 a litre.(Ramesh Pathania/Mint Photo)

Government opens door to raise excise duties on petrol, diesel

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON MAR 24, 2020 08:26 AM IST
According to the amendment proposed by finance minister Nirmala Sitharaman on Monday with reference to the Finance Act, 2018, the additional excise duty limit for both petrol and diesel has been raised to Rs 18 per litre, two government officials said on condition of anonymity.
Finance minister Nirmala Sitharaman will move bill to further amend the Banking Regulation Act, 1949., in the Lok Sabha on March 19, 2020.(PTI File)
Finance minister Nirmala Sitharaman will move bill to further amend the Banking Regulation Act, 1949., in the Lok Sabha on March 19, 2020.(PTI File)

Govt withdraws finance bill from LS list of business

New Delhi | By HT Correspondent
UPDATED ON MAR 19, 2020 08:50 AM IST
Instead of the finance bill, the government has given priority to the Banking Regulation (Amendment) Bill, 2020, in the Lok Sabha.
Finance Minister Nirmala Sitharaman speaks in the Lok Sabha during the Budget Session of Parliament, in New Delhi, Tuesday, Feb. 11, 2020.(PTI file photo)
Finance Minister Nirmala Sitharaman speaks in the Lok Sabha during the Budget Session of Parliament, in New Delhi, Tuesday, Feb. 11, 2020.(PTI file photo)

First half of budget session ends, govt tables 4 key bills

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON FEB 12, 2020 06:16 AM IST
The government managed to introduce three legislations apart from the all-important Finance Bill 2020. These bills are: The Aircraft (Amendment) Bill, The Direct Tax Vivad se Vishwas Bill and The Institute of Teaching and Research in Ayurveda Bill.
Mamata Banerjee government refused governor Dhankar’s request for changes in his budget session opening speech.(HT Photo)
Mamata Banerjee government refused governor Dhankar’s request for changes in his budget session opening speech.(HT Photo)

Mamata govt rejects governor Dhankar’s suggestions for changes in his budget speech

Hindustan Times, Kolkata | By HT Correspondent
UPDATED ON FEB 06, 2020 11:11 PM IST
The budget session of an Assembly starts with the governor’s speech, followed by the finance minister’s presentation of the budget proposals and its passage as the Finance Bill, which requires the governor’s prior approval.
The government also proposes to amend the Customs Tariff Act of 1975 to strengthen the mechanism to prevent dumping of cheap goods in the domestic market.(Bloomberg File Photo)
The government also proposes to amend the Customs Tariff Act of 1975 to strengthen the mechanism to prevent dumping of cheap goods in the domestic market.(Bloomberg File Photo)

Centre proposes to widen scope of Customs Act

Mint, New Delhi | By Utpal Bhaskar and Gireesh Chandra Prasad
UPDATED ON FEB 05, 2020 07:08 AM IST
The measures are aimed at narrowing the trade deficit with China, which has flooded the Indian market with items such as toys, firecrackers and solar power equipment.
Finance Minister Nirmala Sitharaman on Sunday said that the Centre has no intention of levying a tax on the global income of NRIs.(PTI PHOTO.)
Finance Minister Nirmala Sitharaman on Sunday said that the Centre has no intention of levying a tax on the global income of NRIs.(PTI PHOTO.)

‘Global income of NRIs in India will not be taxed,’ says Nirmala Sitharaman

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON FEB 02, 2020 09:49 PM IST
After the Budget on Saturday there was confusion about the tax liability of Non-Resident Indians (NRIs) on their global income.
Notebook with mutual funds sign on a table. Business concept.(iStockphoto)
Notebook with mutual funds sign on a table. Business concept.(iStockphoto)

10% TDS on capital gains in mutual funds?

Livemint, Mumbai | By Neil Borate
UPDATED ON FEB 02, 2020 08:40 AM IST
Currently, TDS is deducted for NRI investors in mutual funds but not resident individuals. The latter have to calculate and pay tax on the basis of self-assessment.
One of the proposals of the union budget presented on Saturday is to do away with tax exemptions that election commissioners enjoy.
One of the proposals of the union budget presented on Saturday is to do away with tax exemptions that election commissioners enjoy.

Exemptions for UPSC staff, poll chiefs to go

Hindustan Times, New Delhi | By Sunetra Choudhury andSmriti Kak Ramachandran
UPDATED ON FEB 02, 2020 07:02 AM IST
The budget says that these exemptions should be done away with by April 2021 for not just Election Commission members but also members of the Union Public Service Commission (UPSC).
Finance Minister Nirmala Sitharaman with MoS Finance Anurag Thakur during a photo up ahead of the Union Budget 2019 - 2020 at South Block, in New Delhi, India, on Friday, January 31, 2020.(Vipin Kumar /HT PHOTO)
Finance Minister Nirmala Sitharaman with MoS Finance Anurag Thakur during a photo up ahead of the Union Budget 2019 - 2020 at South Block, in New Delhi, India, on Friday, January 31, 2020.(Vipin Kumar /HT PHOTO)

Tax revenue, disinvestment target: Experts shed light on focus areas of Budget

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON FEB 01, 2020 07:08 AM IST
Here’s what some top economists will be looking at (and why) when the finance minister presents the finance bill on Saturday.
Finance minister Nirmala Sitharaman receives the report of the new direct tax code panel from its head Akhilesh Ranjan, a member of CBDT, and other members of the panel, in New Delhi on Monday.(PTI)
Finance minister Nirmala Sitharaman receives the report of the new direct tax code panel from its head Akhilesh Ranjan, a member of CBDT, and other members of the panel, in New Delhi on Monday.(PTI)

Govt panel recommends relief for middle class, cut in corporate tax

Livemint, New Delhi | By Gireesh Chandra Prasad
UPDATED ON AUG 20, 2019 03:05 PM IST
The draft code also proposes incentives to startups and a new concept of settling disputes through mediation between the taxpayer and a collegiums of officers, said a person familiar with the contents of the report submitted to finance minister Nirmala Sitharaman on Monday.
The BJP was expected to sail through the trust vote after Kumar disqualified 17 rebel legislators, whose absence during a trust vote last week toppled the coalition government, on Sunday. In the truncated assembly of strength 208, the new halfway mark was 105 – the exact number of MLAs the BJP has.(ANI Photo)
The BJP was expected to sail through the trust vote after Kumar disqualified 17 rebel legislators, whose absence during a trust vote last week toppled the coalition government, on Sunday. In the truncated assembly of strength 208, the new halfway mark was 105 – the exact number of MLAs the BJP has.(ANI Photo)

BS Yediyurappa wins floor test, Karnataka speaker resigns

Hindustan Times, Bengaluru | By Vikram Gopal
UPDATED ON JUL 29, 2019 11:48 PM IST
The House was adjourned till Wednesday, when the new speaker will be elected. The BJP has confirmed that senior leader KG Bopaiah will be its nominee.

Parliament Highlights: Protection of Human rights Bill 2019 passed in Lok Sabha

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON JUL 19, 2019 09:49 PM IST

The Lok Sabha passed the Finance Bill, 2019 on Thursday. Earlier, Finance Minister Nirmala Sitharaman said that seven legislations under indirect taxation are being amended to ensure greater simplicity.Speaking in the Rajya Sabha, External Affairs Minister S Jaishankar called on Pakistan to release and release and repatriate former Indian naval officer Kulbhushan Jadhav to India.Also Read| ICJ’s Kulbhushan Jadhav verdict: What it means for India and Pakistan:

In addition, to improve retail participation in treasury bills and government securities, the government is drawing up plans to allow for seamless transfer between RBI and depositories.(HT Photo)
In addition, to improve retail participation in treasury bills and government securities, the government is drawing up plans to allow for seamless transfer between RBI and depositories.(HT Photo)

Rs 70,000 crore infusion plan for state banks, more power to RBI

New Delhi, Mumbai | By S Gopika Gopakumar & Shayan Ghosh
UPDATED ON JUL 05, 2019 10:59 PM IST
Part of the plan includes empowering Reserve Bank of India (RBI) with sweeping powers over non-banking finance companies (NBFCs).
A vote-on-account presents an estimate of expenditures to be sanctioned by the exchequer till the regular Budget is passed.(HT Photo)
A vote-on-account presents an estimate of expenditures to be sanctioned by the exchequer till the regular Budget is passed.(HT Photo)

What is vote-on-account, when is it presented?

New Delhi | By HT Correspondent
UPDATED ON JAN 31, 2019 10:38 AM IST
The Centre is likely to present a vote-on-account with an interim budget. Understandard practice, a vote-on-account or approval for essential government spending for a limited period is taken in an election year and a full-fledged budget is presented by the new government.
The farm package, which contains a bunch of proposals, will be one of the last major policy decisions of the Narendra Modi government ahead of the summer’s parliamentary elections. The package is aimed at addressing an agrarian crisis.(Diwakar Prasad/ HT Photo)
The farm package, which contains a bunch of proposals, will be one of the last major policy decisions of the Narendra Modi government ahead of the summer’s parliamentary elections. The package is aimed at addressing an agrarian crisis.(Diwakar Prasad/ HT Photo)

Monday meeting cancelled, farm aid likely on talks table tomorrow

Hindustan Times, New Delhi | By Zia Haq
PUBLISHED ON JAN 28, 2019 10:48 PM IST
A special Cabinet meeting scheduled for Monday, which was supposed to take up the government’s much-awaited farm package and the President’s speech to Parliament, was cancelled by the government, an official said on condition of anonymity.
Aadhaar is a 12-digit number, issued by the Unique Identification Authority of India (UIDAI), that acts as identification and address proof.(Mint File Photo)
Aadhaar is a 12-digit number, issued by the Unique Identification Authority of India (UIDAI), that acts as identification and address proof.(Mint File Photo)

Aadhaar not mandatory for central govt employees to get pension: Govt

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON MAY 15, 2018 02:03 PM IST
There have been reports of some retired employees facing difficulties in getting the pension in the absence of Aadhaar linkage with their bank accounts.
The Supreme Court had in February directed the Centre to clarify its stand on setting up of an independent mechanism for determination of salaries and allowances of MPs after the government had said the issue was ‘under consideration’.(Sonu Mehta/HT File Photo)
The Supreme Court had in February directed the Centre to clarify its stand on setting up of an independent mechanism for determination of salaries and allowances of MPs after the government had said the issue was ‘under consideration’.(Sonu Mehta/HT File Photo)

SC dismisses PIL against pension, benefits to former MPs

Press Trust of India, New Delhi | By HT Correspondent
UPDATED ON APR 16, 2018 04:55 PM IST
The Centre had on March 7 told the Supreme Court that the entitlement of former MPs to get pension and other benefits was ‘justified’ as their dignity has to be maintained even after they complete their tenure as parliamentarians.
A January 27, 2018, photo of Congress Rajya Sabha MP Jairam Ramesh in Kolkata. Ramesh has called the washout of sessions a collective failure.(PTI File Photo)
A January 27, 2018, photo of Congress Rajya Sabha MP Jairam Ramesh in Kolkata. Ramesh has called the washout of sessions a collective failure.(PTI File Photo)

After Parliament washout, Jairam Ramesh writes to Venkaiah Naidu requesting special session

Indo Asian News Service, New Delhi | By Indo Asian News Service
UPDATED ON APR 07, 2018 08:11 PM IST
A day earlier, the Congress party has also proposed a short sitting of both Houses of Parliament before the commencement of monsoon session to discuss issues of national importance following the washout of second half of the budget session.
Opposition members protest during the on-going Budget Session of Rajya Sabha, at Parliament House in New Delhi.(PTI File Photo)
Opposition members protest during the on-going Budget Session of Rajya Sabha, at Parliament House in New Delhi.(PTI File Photo)

Highlights: Parliament adjourned sine dine, BJP MPs to fast in protest of impasse ‘caused’ by Congress

Hindustan Times, New Delhi | By HT Correspondent
UPDATED ON APR 06, 2018 03:09 PM IST
Friday was the last day of the second half of the Parliament’s Budget session.
The Union budget has created a mini-industry of commentators (this columnist included) and TV talking heads who routinely scrutinise every detail of the budget days after it is presented. State governments expenditure is significantly larger (and growing) than the Centre’s. It is state’s that are in charge of spending and implementing schemes, which affect our everyday lives. And any meaningful commentary and discussion on budgets must necessarily focus on state budgets.(Sonu Mehta/HT PHOTO)
The Union budget has created a mini-industry of commentators (this columnist included) and TV talking heads who routinely scrutinise every detail of the budget days after it is presented. State governments expenditure is significantly larger (and growing) than the Centre’s. It is state’s that are in charge of spending and implementing schemes, which affect our everyday lives. And any meaningful commentary and discussion on budgets must necessarily focus on state budgets.(Sonu Mehta/HT PHOTO)

No one cares about state budgets

By Yamini Aiyar
PUBLISHED ON APR 02, 2018 04:14 PM IST
This failure to have a robust debate about state budgets is likely to cost the country heavily. State budgets are entering a period of deep instability as fiscal deficits are on the rise.
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