Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

General Knowledge

Question:

The ____________ was presented by Nirmala Sitharaman on 1 February 2022, proposing various changes in the provisions of Income Tax Act, 1961 (the Act).

Options:

Appropriation Bill

Finance Bill

Mediation Bill

Indian Antarctic Bill

Correct Answer:

Finance Bill

Explanation:

The correct answer is Option 2 - Finance Bill

The Finance Bill is the annual bill introduced by the Finance Minister (in this case, Nirmala Sitharaman) in the Lok Sabha to give effect to the financial proposals of the government for the following financial year. It typically proposes changes to various tax laws, including the Income Tax Act.

Appropriation Bill deals with approving the government's spending plans.
Mediation Bill and Indian Antarctic Bill are unrelated to taxation.