Question

The Finance bill includes _________________.

• A. all demands
• B. all expenditure
• C. all accounts
• D. all tax proposals

Answer 1

The correct option is D all tax proposals

The Finance bill is a legislative bill regarding financial issues such as taxes and duties. It is considered as a money bill as defined under article 110 of the Indian Constitution. The Finance Bill is accompanied by a Memorandum containing explanations of the provisions included in it. The Finance Bill can be introduced only in Lok Sabha. However, the Rajya Sabha can recommend amendments in the Bill. The bill has to be passed by the Parliament within $75$ days of its introduction.

The Finance bill contains proposals regarding imposition, abolition, remission, alteration or regulation of taxes proposed in the Budget.