Finance minister Nirmala Sitharaman is set to introduce the Finance Bill, 2022 in Lok Sabha on March 24 which proposes two important adjustments to direct taxes as part of a rate rationalisation plan for associations of persons and dividends received by firms.
The proposed bill also aims to outlaw publishing of transaction-level information submitted to the customs department by businesses, to prevent such information from being utilised by international entities and hostile countries to the detriment of Indian firms.
Sitharaman will also reply to discussions on Appropriation Bill, 2022 and Finance Bill, 2022.
The Appropriation Bill seeks to authorise payment and appropriation of certain sums from and out of the Consolidated Fund of India for the services of the financial year 2022-23. The Finance Bill gives effect to financial proposals of the central government for the financial year 2022-23.
The Lok Sabha is also slated to take up discussions and voting on demands for grants for the ministry of commerce and industry, ministry of ports, shipping and waterways, and ministry of fisheries, animal husbandry and dairying for 2022-23.
The Bharatiya Janata Party (BJP) has asked all its Lok Sabha members to be present in the House today.
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