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Key amendments to Finance Bill, 2023 relating to direct taxes, at the enactment stage
The Finance Bill, 2023 (FB 2023 or Bill) was presented by the Hon’ble Finance Minister (FM) Nirmala Sitharaman on 1 February 2023. While moving the Bill for approval by the Lok Sabha on 24 March 2023, the FM introduced amendments to FB 2023 (Amended FB 2023). The amendments are generally intended to address certain ambiguities/ uncertainties arising from the proposals as contained in the Bill.
This Alert covers direct tax related amendments not including amendments pertaining to units operating in International Financial Services Centre (IFSC). A separate alert will be released on IFSC related amendments.