(HT)
The Lok Sabha on Thursday passed the Finance Bill, rejecting five amendments made to it by the Rajya Sabha, after finance minister Arun Jaitley squashed the opposition’s charges over some tough provisions in the tax laws. On suggestions to curb extra power given to taxmen to carry out search and seizure, Jaitley said he cannot accept the amendments suggested by lawmakers in the Upper House.
On the proposed merger of tribunals by amendments to the Finance Bill, Jaitley defended the move saying, “You need many retired judges to fill the vacancies at tribunals.”So, the government has decided to amalgamate some of the tribunals and make their salary components uniform to cut down on expenses, he said, adding the changes in the laws were being carried out through the Finance Bill because it involves expenditure and savings.Jaitley also justified the change in the laws to pave the way for electoral reforms saying the contentious issue of funding of political parties was mired in “unclean” money and lack of transparency.
