Finance Bill gets presidential assent, takes effect from today

Finance Bill gets presidential assent, takes effect from today

New Delhi :President Pranab Mukherjee has given his assent to the Finance Bill 2017 to give effect to provisions like bar on cash transactions above Rs 2 lakh and compulsory quoting of Aadhaar for filing tax returns.

"The President was kind enough to give his assent to the Finance Bill before he left for official visit to Assam yesterday," Revenue Secretary Hasmukh Adhia said. With this, the provisions of the Finance Bill come into effect from today, he said.

This is the first-time ever the annual Budget together with taxation proposals have come into effect from the first day of the financial year.