InvestorQ : What is a Finance Bill?
Ayushi Kampani made post

What is a Finance Bill?

Swapnil Sarang answered.
3 years ago

A Finance Bill, also defined as a Money Bill in Article 110 of the Constitution, is a bill introduced in the Parliament every year to give effect to the financial proposals made by the government for the upcoming financial year. A Finance Bill largely relates to a change in taxes and levies.

A Finance Bill is usually introduced once a year during the Budget presentation.

This means if the Finance Minister proposes some changes to income tax slabs during the budget speech, then that proposal will be introduced in the Parliament as a Finance Bill and will have to be passed by both the houses to come into effect.