<p>Amid the opposition's demand of a JPC probe in the Adani issue, the Rajya Sabha passed the Finance Bill and The Jammu and Kashmir Appropriation (No 2) Bill, 2023 on Monday.</p>.<p>The Bill was "considered and returned" from the Rajya Sabha. The Bill was earlier passed by the Lok Sabha last week amid the opposition sloganeering.</p>.<p>The Bill aims to authorise the payment and appropriation of certain sums from and out of the Consolidated Fund of India.</p>.<p>Both the Bills were returned to the Lok Sabha without discussion and the House was adjourned for the day.</p>.<p>The Finance Bill 2023-24, which was passed in the Lok Sabha through voice vote on Friday, has as many as 75 amendments, some key ones include a hike in securities transaction tax (STT) on options by 23.5 per cent and futures by 25 per cent.</p>.<p>This will lead to those trading in futures and options (F&amp;O) paying higher STT.</p>.<p>In a way, the move is likely to discourage F&amp;O traders, as the government aims to tax them more since turnover is high in such transactions.</p>.<p>Also the Finance Bill has effected an amendment, stripping debt mutual funds of long-term benefits.</p>.<p>According to the amendment, debt mutual funds have been stripped of the long-term tax benefit, if they invest less than 35 per cent of their assets in equities.</p>.<p>Such mutual funds will attract short-term capital gains tax.</p>
<p>Amid the opposition's demand of a JPC probe in the Adani issue, the Rajya Sabha passed the Finance Bill and The Jammu and Kashmir Appropriation (No 2) Bill, 2023 on Monday.</p>.<p>The Bill was "considered and returned" from the Rajya Sabha. The Bill was earlier passed by the Lok Sabha last week amid the opposition sloganeering.</p>.<p>The Bill aims to authorise the payment and appropriation of certain sums from and out of the Consolidated Fund of India.</p>.<p>Both the Bills were returned to the Lok Sabha without discussion and the House was adjourned for the day.</p>.<p>The Finance Bill 2023-24, which was passed in the Lok Sabha through voice vote on Friday, has as many as 75 amendments, some key ones include a hike in securities transaction tax (STT) on options by 23.5 per cent and futures by 25 per cent.</p>.<p>This will lead to those trading in futures and options (F&amp;O) paying higher STT.</p>.<p>In a way, the move is likely to discourage F&amp;O traders, as the government aims to tax them more since turnover is high in such transactions.</p>.<p>Also the Finance Bill has effected an amendment, stripping debt mutual funds of long-term benefits.</p>.<p>According to the amendment, debt mutual funds have been stripped of the long-term tax benefit, if they invest less than 35 per cent of their assets in equities.</p>.<p>Such mutual funds will attract short-term capital gains tax.</p>