CA Suyash Gupta (Chartered Accountant) (97 Points)
03 June 2016
SUPRIYA
(PRACTICE)
(853 Points)
Replied 03 June 2016
Finance Act is a Act through which Central goverment gives effect to financial proposals at the begining of every year. All the Governmental financial policies are included in this Act. The existing policies, new policies, as well as changes made to existing policies are all included here. Changes in Income Tax Act, Rules, slab etc is one of the element in Finance Act. There are others also like excise, serice tax etc covered therein.
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