The Finance Bill Act 2021
The Finance Bill, 2021 was introduced in Lok Sabha on 01st February 2021 and passed by Lok Sabha on 23rd March 2021 with 127 new amendments in comparison to bill presented in Lok Sabha on 01st February 2021.
Rajya Sabha returned the Finance Bill 2021 without any new amendment on 24th March 2021 which completes the Parliamentary approval for Budget 2021-22.
Finance Bill 2021 further received the Assent of President on 28th March 2021 and Become FINANCE ACT, 2021 (NO. 13 OF 2021).
The Finance Act, 2021 (No. 13 of 2021) contains 172 Sections impacting more than 20 Acts. This Act shall enforce various provisions with effect from 01-02-2021 (i.e., taxation of ULIPs, discontinuation of settlement commission, etc.), some provision shall come into force from 01-04-2021 (i.e., new income escaping assessment procedure, Section 194P, etc.)
You can download the Finance Bill Act 2021 in PDF format using the link given below.
