Lok Sabha approves Finance Bill, tax rules eased

Nirmala Sitharaman, the Indian finance minister, defended amendments to the Finance Bill that aim to reduce litigation and simplify tax compliance for businesses and individuals. The bill allows tax officials to reopen previously struck-down cases and revalidate past orders, while also providing a 30-day response window for reassessment notices and removing arrest provisions for non-payment of taxes. Sitharaman argued that the bill provides relief for middle class households through reduced tax collection at source on overseas education remittances and tour packages, as well as customs duty exemptions on life-saving drugs. She also defended the indirect tax policy, citing increased consumption due to recent GST rate cuts and backing tax breaks for data centers.