Finance Bill to be tabled on Tuesday with 12 amendments

After a logjam of five days, Parliament will finally be functioning tomorrow as the Finance Bill 2013 is likely to be tabled tomorrow with close to 12 amendments, reports CNBC-TV18’s Aakansha Sethi.

Bhartiya Janata Party, which has been demanding prime minister’s and law minister’s resignation over the coal block allocation today said that they will allow the Finance Bill 2013-14 to be passed in the Lok Sabha on Tuesday, as they did not want a ‘constitutional crisis’ to arise.  

Parliamentary affairs minister Kamal Nath today told reporters that all finance-related business of the session will be taken up in the Lok Sabha tomorrow.

However there would be close to 12 amendments in the Finance Bill, sources said. Some of these will include giveaways to sectors which have demanded for certain changes and these are likely to total up to about Rs 2000 crore.

Also read:Better for BJP if it lets govt pass difficult bills: Gupta

Fore foreign investors, tax residency certificate (TRC) will be enough to prove residency in a particular jurisdiction in which a double taxation avoidance (DTA) benefit is being invoked. This is something that the Finance Minister has clarified after the Budget and the language maybe tweaked to bring into effect this change.

Meanwhile senior BJP leader Yashwant Sinha today wrote to P Chidambaram demanding certain amendments to the Finance Bill. Sinha has sought the amendment to ensure that farmers whose land was being attached for non-payment of wealth tax were provided some relief.

The finance minister is however unlikely to make any speech tomorrow as BJP continues to oppose government on other issues. When the Budget was announced the Finance Minister had said that he would use the opportunity when the Finance Bill was being passed to make some more announcements, but that is unlikely now.

(With inputs from agencies)