Commencement Date:
Central Government designates January 1, 2021, as the effective date for sections 119, 120, 121, 122, 123, 124, 126, 127, and 131 of the Finance Act, 2020.
Legislative Authority:
Exercise of powers under sub-section (2) of section 1 of the Finance Act, 2020, empowers the Central Government to enact the specified provisions.
Director's Directive:
Pramod Kumar, Director at the Government of India, officiates the announcement, ensuring regulatory compliance.
Provisions Enforced:
Key sections covering diverse financial aspects shall be in force, contributing to regulatory implementation.
Enhanced Regulatory Framework:
Implementation supports the evolution of financial regulations, bolstering governance and transparency.
Aligned with Legislative Mandates:
Appointment of the effective date aligns with statutory obligations, facilitating seamless integration of legislative amendments.
Adherence to Legal Framework:
Government's action underscores commitment to upholding legal provisions and fostering regulatory clarity.