Amendments to Finance Bill 2017 As Introduced In Lok Sabha

Union Government has proposed several amendments to Finance Bill 2017 presented in Lok Sabha on 01.02.2017 by introducing notice of amendment to finance bill 2017 Lok Sabha on 01.02.2017.

Some of the important amendment proposed are as follows :-

1. Appointment of, and remuneration to, the ITAT Member

2. Make Aadhar card mandatory for filing income-tax returns and PAN.

3. Amendments to around 40 Acts and some of them includes the following:-

1. Securities and Exchange Board of India Act,  1992
2. Consumer Protection Act, 1986
3. Administrative Tribunals Act, 1985
4. Income Tax Act,
5. Cinematograph Act,
6. Customs Act, 1962
7. Recovery of Debts Due to Banks and Financial Institutions Act,
8. Electricity Act,
9. Armed Forces Tribunal Act 2007
10. National Green Tribunal Act 2010
11. Security Contracts (Regulation) Act, 1956
12. Depositories Act, 1996
13. Companies Act, 2013

Sitaram Yechury said that “Several bills have been smuggled into the Finance Bill this time including the RBI and Representation of People’s Act. This is a subversion of the Constitution, to bypass Rajya Sabha as Finance Bill is a money bill. This exposes govt’s anti-democratic methods.”
Amendment to Finance Bill 2017