Lok Sabha

The Finance Bill was passed without discussion as Parliament continued to remain stalled over Opposition demands for a probe by a joint parliamentary ...

Investment entities owned by the Abu Dhabi Investment Authority (ADIA) will be eligible for capital gains tax exemption on relocating to GIFT. The budget had also proposed that the income received by real estate and infrastructure investment trust (REIT and InvIT) unitholders in the form of 'repayment of debt' will be taxed from April 2024 as other income which was otherwise not taxable. This benefit will be available to any entity in which ADIA is the direct or indirect sole shareholder or unitholder or beneficiary or interest holder and such investment is wholly owned and controlled by ADIA or the government of Abu Dhabi, the amendment said. Credit card payments made in India for foreign tours will now be covered under the regime for LRS and also be subject to 20% The amendment provides marginal relief so that the additional tax would not be more than the amount by which income exceeds Rs 7 lakh. The budget provided that income up to Rs 7 Lakh would not be taxable under the new regime through a rebate mechanism. The change is in line with the budget proposal to tax market-linked debentures. The government did not offer any relief related to the angel tax provisions in the budget that will come into force on April 1, 2024. It also raised the securities transaction tax rate by 25% on futures and options, according to the [Finance Bill](/definition/finance-bill)passed by the Lok Sabha on Friday with as many as 64 amendments. The amended Finance Bill doubled the withholding tax rate to 20% from 10% on royalty and fees for technical services payments to non-residents, and extended the 20% tax collection at source to all remittances even if within India, including payment by credit cards. Currently, instead of distributing income to investors, debt mutual funds convert earnings into capital gains through the appreciation of unit value. Here’s a pro tip](/markets/expert-view/confused-between-bank-fds-and-debt-mutual-funds-heres-a-pro-tip/articleshow/98771151.cms) [debt mutual funds](/topic/debt-mutual-funds)as short-term [capital gains](/topic/capital-gains)and [royalty payouts](/topic/royalty-payouts)by local arms of multinational companies at a higher rate, while offering marginal relief to individual taxpayers under the new [income tax](/wealth/tax)regime.

Sitharaman also announced that a new committee will be set up under Finance Secretary to look into the National Pension System (NPS) for government ...

So far, Punjab, Rajasthan, Chhattisgarh, Himachal Pradesh, and Jharkhand went back to the Old Pension Scheme and quashed the new pension scheme. The Reserve Bank is being requested to look into this with a view to bring credit card payments for foreign tours within the ambit of LRS and tax collection at source thereon," Sitharaman said today. Similarly, the rate of TCS on foreign remittances for the purpose of education through loan from financial institutions was proposed to continue to be 0.5 per cent in excess of Rs 7 lakh. Sitharaman also announced that a new committee will be set up under Finance Secretary to look into the National Pension System (NPS) for government employees. A marginal relief is proposed to be provided to the taxpayers. Thus many taxpayers were able to reduce their tax liability through this arbitrage, and this is now sought to be addressed through the amendment.

On Thursday, the House had passed the Union Budget 2023 within 12 minutes and also without any discussion.

The Speaker, according to The Tribune, put the demands for grants of all ministries for voting. This too had happened at a time when the House was witnessing protests from the Opposition. Speaking while moving the Bill, Sitharaman said the Union government had received recommendations that the National Pension System for government employees needs to be improved.

The Lok Sabha passed the Finance Bill 2023, which implements tax proposals for the upcoming fiscal year, without any discussion.

- The Finance Bill, as a Money Bill, needs to be passed by the Lok Sabha — the lower house of the Parliament. The Money Bill is concretely defined in Article 110. Also, the Speaker’s decision shall be deemed to be final. The Lok Sabha passed the Finance Bill 2023, which implements tax proposals for the upcoming fiscal year, without any discussion. - Furthermore, the Securities Transaction Tax on the sale of options has been raised from Rs. 2,100 on a turnover of Rs.

Indira Gandhi was disqualified and barred from holding office after the Allahabad High Court found her guilty of engaging in 'corrupt practices' during her ...

The conditional stay granted by the Apex Court in its interim order prompted Gandhi to declare the National Emergency on June 25, 1975, on grounds of “internal disturbance” under Article 352 of the Constitution, merely a day after Justice Krishna Iyer’s decision. However, in 1977 when the Janata Government came to power, it decided to do away with Article 329A, by way of the Forty-Fourth Amendment, which came into effect from June 20, 1979. That is to say, the petitioner will remain a Member of the Lok Sabha for all purposes except to the extent restricted by para III so long as the stay order lasts,” the Court said in its judgment. Consequently, she was disqualified from Parliament and from holding any elected post, for a period of six years from the date of this decision onwards. This led to the High Court concluding that Section 123 (7) of the RPA had indeed been violated. The use of police, army personnel, judges, magistrates, and gazetted officers falls under this subsection of the RPA.

The Lok Sabha membership of Rahul Gandhi, who was elected an MP from Wayanad, was terminated on Friday. This was a result of a Surat court sentencing him to ...

But Rahul isn't the first Gandhi to have lost membership of the Lok Sabha. Both Indira Gandhi and Sonia Gandhi made a strong comeback after facing political ups and downs. In 2006, the 'office of profit' issue was raised loudly in Parliament. The Committee of Privileges came to the conclusion that the allegations against Indira were true. The Lok Sabha membership of Rahul Gandhi, who was elected an MP from Wayanad, was terminated on Friday. After the Emergency, when elections were held, Indira Gandhi received a crushing defeat.

This disqualification means that Rahul Gandhi's seat in Wayanad now stands vacant, and the Election Commission may soon announce a fresh election schedule ...

TRENDING RECOMMENDED The disqualification has sparked reactions from politicians across the spectrum. This disqualification also means that Rahul Gandhi will not be able to contest the general election in 2024 unless his conviction is suspended or overturned by a higher court before the elections. The court sentenced him to two years in jail, but he was granted bail and the sentence was suspended for 30 days. On March 23, 2023, Rahul Gandhi, Congress leader and Member of Parliament from Wayanad, was convicted by a Gujarat court in a criminal defamation case for his remarks on the Modi surname.

The Lok Sabha Secretariat stated that Congress leader Rahul Gandhi has been disqualified from Lok Sabha, the Lower House of the Indian Parliament.

A tweet from the party’s official account read: “Lok Sabha membership of Rahul Gandhi has been terminated. The Congress reacted strongly to the disqualification of Rahul Gandhi. 23 March, 2023,” the notification read.

Wayanad MP Rahul Gandhi has lost his Lok Sabha seat after being convicted of criminal defamation by a Surat court. What happens now — and what are the best- ...

The Lok Sabha Secretariat has sent a copy of the disqualification notification to the liaison officer of the Directorate of Estates for further action. A notification issued by the Lok Sabha Secretariat on Friday said Rahul “stands disqualified from the membership of Lok Sabha from the date of his conviction i.e. For example, in the case of The Supreme Court in its ruling in Lok Prahari v Union of India (2018) clarified that a disqualification triggered by a conviction will be reversed if the conviction is stayed by a court. Following his disqualification, he will have one month to vacate his 12 Tughlak Lane home, according to sources in the Housing and Urban Affairs Ministry. It is part of the procedure.

The Lok Sabha secretariat issued a notification on Friday disqualifying Gandhi as a member of the Lok Sabha of Parliament.

TRENDING They don't want to keep those who are speaking the truth but we will continue to speak the truth. We'll continue to demand JPC, If needed we'll go to jail to save democracy," Congress chief Kharge said. "The day Rahul Gandhi raised questions against Adani, PM, this type of conspiracy was started to silence Rahul Gandhi. The Lok Sabha secretariat issued a notification on Friday disqualifying Gandhi as a member of the Lok Sabha of Parliament following his conviction by a Surat court in a 2019 criminal defamation case. The Wayanad Lok Sabha constituency in Kerala was declared vacant, hours after Congress MP Rahul Gandhi was disqualified from the Lok Sabha.

After being disqualified from Lok Sabha after his conviction in defamation case, Rahul Gandhi changed his Twitter bio and added Dis'Qualified in it.

Lok Sabha on Friday passed the Finance Bill 2023 with 64 official amendments, including the one that seeks withdrawal of long-term tax benefits on certain ...

Sitharman introduced 64 official amendments to the Finance Bill which was tabled in Parliament on February 1 along with the Budget proposals. While moving the bill for passage and consideration, finance minister Nirmala Sitharaman also announced the setting up of a committee under finance secretary to look into pension issues of government employees. The Finance Bill that gives effect to tax proposals for fiscal year starting April 1 was passed without a discussion amidst ruckus by opposition members demanding a JPC (Joint Parliamentary Committee) probe into the allegations against the Adani group of companies.

The Finance Bill was passed without discussion as Parliament continued to remain stalled over Opposition demands for a probe by a joint parliamentary ...

Investment entities owned by the Abu Dhabi Investment Authority (ADIA) will be eligible for capital gains tax exemption on relocating to GIFT. The budget had also proposed that the income received by real estate and infrastructure investment trust (REIT and InvIT) unitholders in the form of 'repayment of debt' will be taxed from April 2024 as other income which was otherwise not taxable. This benefit will be available to any entity in which ADIA is the direct or indirect sole shareholder or unitholder or beneficiary or interest holder and such investment is wholly owned and controlled by ADIA or the government of Abu Dhabi, the amendment said. Credit card payments made in India for foreign tours will now be covered under the regime for LRS and also be subject to 20% The amendment provides marginal relief so that the additional tax would not be more than the amount by which income exceeds Rs 7 lakh. The budget provided that income up to Rs 7 Lakh would not be taxable under the new regime through a rebate mechanism. The change is in line with the budget proposal to tax market-linked debentures. The government did not offer any relief related to the angel tax provisions in the budget that will come into force on April 1, 2024. It also raised the securities transaction tax rate by 25% on futures and options, according to the [Finance Bill](/definition/finance-bill)passed by the Lok Sabha on Friday with as many as 64 amendments. The amended Finance Bill doubled the withholding tax rate to 20% from 10% on royalty and fees for technical services payments to non-residents, and extended the 20% tax collection at source to all remittances even if within India, including payment by credit cards. Currently, instead of distributing income to investors, debt mutual funds convert earnings into capital gains through the appreciation of unit value. Here’s a pro tip](/markets/expert-view/confused-between-bank-fds-and-debt-mutual-funds-heres-a-pro-tip/articleshow/98771151.cms) [debt mutual funds](/topic/debt-mutual-funds)as short-term [capital gains](/topic/capital-gains)and [royalty payouts](/topic/royalty-payouts)by local arms of multinational companies at a higher rate, while offering marginal relief to individual taxpayers under the new [income tax](/wealth/tax)regime.