Finance Act 2021 Provisions Effective from August 1, 2021
Key Date:
The Central Government designates August 1, 2021, as the effective date for certain provisions of the Finance Act 2021.
Activated Sections:
Sections 110 and 111 of the Finance Act 2021 are now in force starting from the specified date.
Finance Act 2021 Overview:
The Finance Act 2021 (13 of 2021) empowers the government to enact fiscal measures and policies for the fiscal year.
Government Notification:
The activation is confirmed through an official notification by the Under Secretary to the Government of India, Rajeev Ranjan.
Legal Authority:
The provisions are enforced under the authority of clause (b) of sub-section (2) of section 1 of the Finance Act 2021.
Effective Legislation:
Sections 110 and 111 cover specific regulatory measures that are now legally binding from the mentioned date.
Administrative Implementation:
The activation signifies the government's readiness to implement and enforce the specified sections, bringing legal clarity to associated matters.
This official announcement clarifies the commencement of crucial sections under the Finance Act 2021.