The Finance Bill, 2021 (FB 2021 or Bill) was presented by the Hon’ble Finance Minister (FM) Nirmala Sitharaman on 1 February 2021. In the wake of the representations received from various stakeholders, while moving the Bill for approval by the Lok Sabha on 23 March 2021, the FM introduced amendments to FB 2021 (Amended FB 2021). The amendments are generally intended to address certain ambiguities arising from the wordings of proposals as contained in the Bill.
This Alert covers corporate tax and other direct tax related amendments. Amendments pertaining to the Financial Services Sector are being separately alerted.