Union Budget 2014

Finance Bill (No. 2) 2014 – Passed by the Lok Sabha with amendments 
The Finance Bill (No. 2) 2014 as approved by the Lok Sabha has brought some amendments to the Draft Bill that was tabled by Hon’ble Finance Minister Shri Arun Jaitley on 10th July, 2014.The key amendments are in the clarification with respect to the holding period of Debt Mutual Funds and benefit of provisio to sec 112, enhancement in the powers of the settlement commission, allowing for residents to obtain Advance Rulings, provisio inserted for introduction of range concept in transfer pricing.