Finance Act, 2022 notified by Govt.

Ministry of Law & Justice, Govt. of India has notified the Finance Act 2022, post assent/ approval of the Hon’ble President of India on 30/03/2022, in respect of the Budget Proposals (2022) for financial and direct/ indirect taxation issues, relating to FY 2022-23/ AY 2023-24.

It may be noted that the Finance Bill 2022 was presented in Lok Sabha on  01/02/2022 and passed on 25/03/2022 with 39 amendments thereto proposed by the FM subsequently. After obtaining assent on 30/03/2022 from the Hon’ble President of India, the Finance Bill, 2022 has now turned as the Finance Act, 2022.

Finance Act, 2022 notified by Govt. post President's Assent

Further, it may be noted that Sections 2 to 85 of the Finance Act, 2022 shall be applicable w.e.f. 01/04/2022 and Sections 100 to 114 of the Finance Act, 2022 shall be applicable from a date as may be notified later by the Government. In respect of all other Sections of the Finance Act, 2022, the date of applicability is mentioned in the respective clauses or the date of Notification may be construed as the date of applicability.

GOI Notification dt. 30/03/2022: Finance Act 2022

The following Act of Parliament received the assent of the President on 30/03/2022 and is hereby published for general information:-

THE FINANCE ACT, 2022
No. 6 OF 2022
30/03/2022

An Act to give effect to the financial proposals of the Central Government for the financial year 2022-2023.

BE it enacted by Parliament in the Seventy-third Year of the Republic of India as follows:-

CHAPTER I: PRELIMINARY

1. Short title and commencement:

(1) This Act may be called the Finance Act, 2022.

(2) Save as otherwise provided in this Act,-

(a) sections 2 to 85 shall come into force on 01/04/2022;

(b) sections 100 to 114 shall come into force on such date as the Central Government may, by notification in the Official Gazette, appoint. (..contd.. please refer above attachment)

Union Budget India 2022-23/ Finance Bill, 2022

India’s Union Budget (2022-23)/ Finance Bill, 2022 has been presented by MoF Mrs. Nirmala Sitharaman in the Parliament on 01/02/2022:

Key Features/ Proposals of Budget 2022/ Finance Bill 2022

Budget 2022 Speech (English) along with Tax proposals by FM Smt. Nirmala Sitharaman

Finance Bill, 2022 (English): Budget 2022 Proposals on Direct/ Indirect Taxes

Finance Bill, 2022 (Hindi): Budget 2022 Proposals on Direct/ Indirect Taxes

Memorandum Explaining Proposals on Direct/ Indirect taxes: Finance Bill (Budget) 2022

All the documents related to Budget 2022 speech/ proposals have been made available by the Govt. at https://www.indiabudget.gov.in/

Related Posts:

Explanatory Notes on Finance Act 2022

Summary of Direct/ Indirect Tax Proposals of Union Budget 2022-23

GST related Amendments in Finance Act, 2022

ICAI’s Pre Budget Memorandum 2022/ 2023 on Direct Taxes/ International Taxation

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