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With reference to Indian Parliament, which one of the following is not correct?
- a)The Appropriation Bill must be passed by both the Houses of Parliament before it can be enacted as a law.
- b)No money shall be withdrawn from the Consolidated Fund of India except under the appropriation made by the Appropriation Act.
- c)Finance Bill is required for proposing new taxes but no another Bill/Act is required for making changes in the rates of taxes which are already under operation.
- d)No Money Bill can be introduced except on the recommendation of the President.
Correct answer is option 'C'. Can you explain this answer?
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With reference to Indian Parliament, which one of the following is not...
An Appropriation Bill is a law authorizing the Govt. to incur expenditure from and out of the consolidated fund of India. Art. 114 provides the procedure to be followed for introducing the Bill and the procedure to be followed thereafter. Like any other Bill, it has to be passed by both the Houses in order to become a law. Art.117 provides that any bill which would involve expenditure from the consolidated fund of India shall not be passed by either House unless the President has recommended the consideration of the Bill. Finance Bills are also money bills and they are required for proposing new taxes as well as for making alterations in the regulation of any tax as mandated by Art.110.
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With reference to Indian Parliament, which one of the following is not...
The correct answer is option 'C': Finance Bill is required for proposing new taxes but no another Bill/Act is required for making changes in the rates of taxes which are already under operation.
Explanation:
The statement in option 'C' is not correct. In the Indian Parliament, a separate Bill/Act is required for making changes in the rates of taxes that are already under operation. Let's understand the functioning of the Indian Parliament in relation to taxation and financial matters:
1. Appropriation Bill:
- The Appropriation Bill is a type of Money Bill that authorizes the government to withdraw funds from the Consolidated Fund of India for meeting its expenses.
- This Bill must be passed by both the Houses of Parliament (Lok Sabha and Rajya Sabha) before it can be enacted as a law.
- It specifies the grants and appropriations for various government departments and agencies.
2. Consolidated Fund of India:
- The Consolidated Fund of India is the main account of the government where all revenues received and loans raised by the government are credited.
- No money can be withdrawn from this fund except under the appropriation made by the Appropriation Act.
3. Finance Bill:
- The Finance Bill is presented by the Finance Minister of India and contains provisions related to taxation, expenditure, and other financial matters for the upcoming financial year.
- It proposes new taxes, amendments to existing tax laws, and changes in the rates of taxes.
- The Finance Bill must be passed by both Houses of Parliament to become an Act of Parliament.
- Amendments related to taxation and financial matters can only be made through the Finance Bill.
From the above explanation, it is clear that a separate Bill/Act is required for making changes in the rates of taxes that are already under operation. Therefore, option 'C' is not correct.
Explanation:
The statement in option 'C' is not correct. In the Indian Parliament, a separate Bill/Act is required for making changes in the rates of taxes that are already under operation. Let's understand the functioning of the Indian Parliament in relation to taxation and financial matters:
1. Appropriation Bill:
- The Appropriation Bill is a type of Money Bill that authorizes the government to withdraw funds from the Consolidated Fund of India for meeting its expenses.
- This Bill must be passed by both the Houses of Parliament (Lok Sabha and Rajya Sabha) before it can be enacted as a law.
- It specifies the grants and appropriations for various government departments and agencies.
2. Consolidated Fund of India:
- The Consolidated Fund of India is the main account of the government where all revenues received and loans raised by the government are credited.
- No money can be withdrawn from this fund except under the appropriation made by the Appropriation Act.
3. Finance Bill:
- The Finance Bill is presented by the Finance Minister of India and contains provisions related to taxation, expenditure, and other financial matters for the upcoming financial year.
- It proposes new taxes, amendments to existing tax laws, and changes in the rates of taxes.
- The Finance Bill must be passed by both Houses of Parliament to become an Act of Parliament.
- Amendments related to taxation and financial matters can only be made through the Finance Bill.
From the above explanation, it is clear that a separate Bill/Act is required for making changes in the rates of taxes that are already under operation. Therefore, option 'C' is not correct.
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With reference to Indian Parliament, which one of the following is not correct?a)The Appropriation Bill must be passed by both the Houses of Parliament before it can be enacted as a law.b)No money shall be withdrawn from the Consolidated Fund of India except under the appropriation made by the Appropriation Act.c)Finance Bill is required for proposing new taxes but no another Bill/Act is required for making changes in the rates of taxes which are already under operation.d)No Money Bill can be introduced except on the recommendation of the President.Correct answer is option 'C'. Can you explain this answer?
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