Finance Bill 2017

AS INTRODUCED IN LOK SABHA
ON 1ST FEBRUARY, 2017
Bill No.12 of 2017

THE FINANCE BILL, 2017

A BILL to give effect to the financial proposals of the Central Government for the financial year 2017-2018.
BE it enacted by Parliament in the Sixty-eighth Year of the Republic of India as follows:—

CHAPTER I
PRELIMINARY

1. (1) This Act may be called the Finance Act, 2017.

(2) Save as otherwise provided in this Act, sections 2 to 87 shall come into force on the 1st day of April, 2017.

CHAPTER II
RATES OF INCOME-TAX

Short title and commencement.

2. (1) Subject to the provisions of sub-sections (2) and (3), for the assessment year commencing on the 1st day of April, 2017, income-tax shall be charged at the rates specified in Part I of the First Schedule and such tax shall be increased by a surcharge, for purposes of the Union, calculated in each case in the manner provided therein.

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