Question
With respect to the Finance Bill, consider the following
statements: I. Imposition II. Amendment III. Remission IV. Alteration V. Regulation Which of the above is/are related to Fiancnace bill with taxes proposed in the Budget?Solution
At the time of presentation of the Annual Financial Statement before the Parliament, a Finance Bill is also presented in fulfillment of the requirement of Article 110 (1)(a) of the Constitution, detailing the imposition, abolition, remission, alteration or regulation of taxes proposed in the Budget. It also contains other provisions relating to Budget that could be classified as Money Bill.
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