Finance Bill (India)
E543261
The Finance Bill (India) is a key legislative proposal introduced annually in Parliament to give legal effect to the government's financial proposals, including taxation changes and budgetary measures, for the upcoming fiscal year.
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
bill
ⓘ
legislative proposal ⓘ money bill ⓘ |
| appliesTo | upcoming financial year ⓘ |
| becomes | Finance Act (India) after presidential assent NERFINISHED ⓘ |
| constitutionalBasis |
Article 110 of the Constitution of India
ⓘ
Article 117 of the Constitution of India ⓘ |
| contains |
provisions relating to abolition of existing taxes
ⓘ
provisions relating to alteration of existing taxes ⓘ provisions relating to appropriation of moneys out of the Consolidated Fund of India ⓘ provisions relating to custody of the Consolidated Fund of India ⓘ provisions relating to declaration of any expenditure as charged on the Consolidated Fund of India ⓘ provisions relating to duties ⓘ provisions relating to expenditure charged on the Consolidated Fund of India ⓘ provisions relating to fees ⓘ provisions relating to imposition of new taxes ⓘ provisions relating to receipt of money on account of the Consolidated Fund of India ⓘ provisions relating to regulation of borrowing of money by the Government of India ⓘ provisions relating to taxation ⓘ |
| country | India ⓘ |
| effectiveFrom | start of the next financial year unless otherwise specified ⓘ |
| governs |
rates of certain cesses and surcharges
ⓘ
rates of customs duties for the financial year ⓘ rates of excise duties for the financial year ⓘ rates of income tax for the financial year ⓘ |
| introducedBy |
Government of India
NERFINISHED
ⓘ
Minister of Finance ⓘ |
| introducedFrequency | annually ⓘ |
| introducedIn | Parliament of India NERFINISHED ⓘ |
| introducedInHouse | Lok Sabha NERFINISHED ⓘ |
| language |
English
ⓘ
Hindi ⓘ |
| linkedProcess | budgetary process of the Union Government ⓘ |
| mayInclude |
amendments to existing tax laws
ⓘ
provisions for new tax regimes ⓘ |
| presentedAlongWith | Union Budget NERFINISHED ⓘ |
| purpose |
to give legal effect to the government’s financial proposals
ⓘ
to implement budgetary measures ⓘ to implement taxation changes ⓘ |
| relatedTo |
Annual Financial Statement
ⓘ
Union Budget of India NERFINISHED ⓘ |
| requiresAssentOf | President of India NERFINISHED ⓘ |
| roleOfRajyaSabha | can recommend amendments but cannot reject ⓘ |
| scope |
central government taxation
ⓘ
direct taxes ⓘ indirect taxes ⓘ |
| speakerCertification | certified as Money Bill by Speaker of Lok Sabha ⓘ |
| timeLimitInRajyaSabha | 14 days ⓘ |
| typeOf | Money Bill under Article 110 NERFINISHED ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.
subject surface form:
Appropriation Bill (India)