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THE FINANCE (NO. 2) BILL, 2024ABILLto give effect to the financial proposals of the CentralGovernment for the financial year 2024-2025.BE it enacted by Parliament in the Seventy-fifth Year of theRepublic of India as follows:CHAPTER IAS INTRODUCED IN LOK SABHAON 23RD JULY, 2024Bill No. 55 of 2024
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FAQ :
The Finance (No. 2) Bill, 2024 is an Act introduced in Lok Sabha to give effect to the Central Government's financial proposals for the financial year 2024-2025.
Sections 2 to 87 of the Act are deemed to have come into force on 1st April 2024. Other sections, from 110 to 153, will come into force on a date appointed by the Central Government.
For the assessment year commencing on 1st April 2024, income tax will be charged at the rates specified in Part I of the First Schedule, with a surcharge for the Union calculated as provided therein.
The Bill is No. 55 of 2024 and was introduced in Lok Sabha on 23rd July 2024.
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