Finance Bill passed with 32 amendments
Lok Sabha approved the Finance Bill with key amendments. Promoters' capital gains from share buybacks will now face a 12% surcharge. Startup tax holidays have been extended, with the turnover threshold raised to Rs 300 crore. Taxpayers will now receive a minimum of 30 days to respond to reassessment notices, fostering a trust-based tax administration.
Lok Sabha approved the Finance Bill with key amendments. Promoters' capital gains from share buybacks will now face a 12% surcharge. Startup tax holidays have been extended, with the turnover threshold raised to Rs 300 crore. Taxpayers will now receive a minimum of 30 days to respond to reassessment notices, fostering a trust-based tax administration.
