Date:29/04/2005 URL: http://www.thehindubusinessline.com/2005/04/29/stories/2005042902321000.htm

Back Debate on Finance Bill initiated in LS

Our Bureau

New Delhi , April 28

DEBATE of the Finance Bill, 2005, was initiated in the Lok Sabhaon Thursday. The Finance Minister, Mr P. Chidambaram, however, did not indicate the changes that are likely to be proposed while moving the Bill for consideration and passage.

The amendments, if any, are likely to be introduced when Mr Chidambaram replies to the debate that is scheduled for May 2.

There has been an intense debate during the past couple of months on the need for changes in the proposed fringe benefit tax on companies and the banking cash transaction tax that seeks to levy a 0.1 per cent tax on cash withdrawals of Rs 10,000 and above in a single day.