Finance Act (India)
E543262
The Finance Act (India) is an annual legislation passed by Parliament that gives legal effect to the Union Budget by specifying tax rates, duties, and related fiscal measures for the financial year.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Finance Act (India) canonical | 1 |
How this entity was disambiguated
This entity first appeared as the object of triple T5739737 — resolving that mention is where its identity was fixed. The disambiguator weighed these candidate entities and picked the highlighted one (or “None”, minting a new entity). This is how homonymy is resolved: the same surface form can point to different entities.
NED1
Entity disambiguation (via context triple)
gpt-5-mini-2025-08-07
Target entity: Finance Act (India) Context triple: [Appropriation Bill (India), distinctFrom, Finance Act (India)]
-
A.
Foreign Exchange Management Act, 1999
The Foreign Exchange Management Act, 1999 is an Indian law that regulates foreign exchange transactions and external trade payments, aiming to facilitate orderly development and maintenance of the country’s foreign exchange market.
-
B.
Finance Commission (Miscellaneous Provisions) Act, 1951
The Finance Commission (Miscellaneous Provisions) Act, 1951 is an Indian statute that lays down the composition, qualifications, and functioning framework of the Finance Commission of India.
-
C.
Reserve Bank of India Act, 1934
The Reserve Bank of India Act, 1934 is the foundational legislation that established the Reserve Bank of India and provides the legal framework for monetary policy, currency issuance, and regulation of the Indian financial system.
-
D.
Per Centum Limit Act of 1921
The Per Centum Limit Act of 1921 was a U.S. federal immigration law that imposed the first numerical limits and nationality-based quotas on immigration, sharply restricting the number of newcomers allowed into the country.
-
E.
Income Tax Act
The Income Tax Act is the primary Canadian federal law that sets out the rules for calculating, reporting, and paying income tax for individuals and businesses.
- F. None of above. chosen
- G. Unsure - the case is ambiguous/there is not enough information to decide.
NED2
Entity disambiguation (via description)
gpt-5-mini-2025-08-07
Target entity: Finance Act (India) Target entity description: The Finance Act (India) is an annual legislation passed by Parliament that gives legal effect to the Union Budget by specifying tax rates, duties, and related fiscal measures for the financial year.
-
A.
Foreign Exchange Management Act, 1999
The Foreign Exchange Management Act, 1999 is an Indian law that regulates foreign exchange transactions and external trade payments, aiming to facilitate orderly development and maintenance of the country’s foreign exchange market.
-
B.
Finance Commission (Miscellaneous Provisions) Act, 1951
The Finance Commission (Miscellaneous Provisions) Act, 1951 is an Indian statute that lays down the composition, qualifications, and functioning framework of the Finance Commission of India.
-
C.
Reserve Bank of India Act, 1934
The Reserve Bank of India Act, 1934 is the foundational legislation that established the Reserve Bank of India and provides the legal framework for monetary policy, currency issuance, and regulation of the Indian financial system.
-
D.
Per Centum Limit Act of 1921
The Per Centum Limit Act of 1921 was a U.S. federal immigration law that imposed the first numerical limits and nationality-based quotas on immigration, sharply restricting the number of newcomers allowed into the country.
-
E.
Income Tax Act
The Income Tax Act is the primary Canadian federal law that sets out the rules for calculating, reporting, and paying income tax for individuals and businesses.
- F. None of above. chosen
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
Act of Parliament of India
ⓘ
fiscal legislation ⓘ |
| appliesTo | financial year ⓘ |
| bindingOn |
Union Government of India
NERFINISHED
ⓘ
taxpayers in India ⓘ |
| canInclude |
tax exemptions
ⓘ
tax incentives ⓘ tax relief measures ⓘ |
| category |
Indian budgetary legislation
ⓘ
Indian tax legislation ⓘ |
| constitutionalBasis |
Article 110 of the Constitution of India
NERFINISHED
ⓘ
Article 265 of the Constitution of India NERFINISHED ⓘ |
| country | India ⓘ |
| defines |
corporate tax rates
ⓘ
tax slabs for individuals ⓘ |
| effectiveFrom | 1 April of the relevant financial year ⓘ |
| enactedBy |
Lok Sabha
NERFINISHED
ⓘ
Rajya Sabha NERFINISHED ⓘ |
| frequency | annual ⓘ |
| givesEffectTo | Union Budget of India NERFINISHED ⓘ |
| introducedBy | Minister of Finance (India) NERFINISHED ⓘ |
| jurisdiction | Union of India NERFINISHED ⓘ |
| language |
English
ⓘ
Hindi ⓘ |
| legalArea |
budgetary law
ⓘ
public finance ⓘ taxation law ⓘ |
| legislativeBody | Parliament of India NERFINISHED ⓘ |
| mayAmend |
Central Excise Act, 1944
NERFINISHED
ⓘ
Customs Act, 1962 NERFINISHED ⓘ Goods and Services Tax laws ⓘ Income-tax Act, 1961 NERFINISHED ⓘ |
| partOf | budget process of the Government of India ⓘ |
| primaryPurpose | to give legal effect to the Union Budget ⓘ |
| regulates |
duties
ⓘ
fiscal measures ⓘ tax rates ⓘ |
| relatedTo |
Appropriation Act (India)
NERFINISHED
ⓘ
Consolidated Fund of India NERFINISHED ⓘ |
| requiresAssentOf | President of India NERFINISHED ⓘ |
| scope |
Union taxation
ⓘ
direct taxes ⓘ indirect taxes ⓘ |
| specifies |
rates of customs duty
ⓘ
rates of excise duty ⓘ rates of income tax ⓘ surcharge and cess on taxes ⓘ |
| typeOfBill | Money Bill ⓘ |
How these facts were elicited
The pipeline generated the facts above by prompting gpt-5.1 with this entity's name + description and the instruction below.
Instruction
You are a knowledge base construction expert. Given a subject entity and a description of it, return factual statements that you know for the subject as a JSON list of dictionaries(triples), where keys must be "subject", "predicate" and "object". The number of facts may be very high, between 25 to 50 or more, for very popular subjects. For less popular subjects, the number of facts can be very low, like 5 or 10. # Requirements - If you don't know the subject at all, return an empty list. - If the subject is not a named entity, return an empty list. - Include at least one triple where predicate is "instanceOf". - Do not get too wordy. - Separate several objects into multiple triples with one object.
Input
Subject: Finance Act (India) Description of subject: The Finance Act (India) is an annual legislation passed by Parliament that gives legal effect to the Union Budget by specifying tax rates, duties, and related fiscal measures for the financial year.
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.
subject surface form:
Appropriation Bill (India)