Executive summary

The Finance Minister (Minister) of India presented the Finance Bill, 2020 (the Bill) as part of India’s Union Budget for the Financial Year (FY) 2020-21 (Budget 2020) on 1 February 2020. The Bill, with certain amendments, was enacted as the Finance Act, 2020 (the Act) on 27 March 2020, after receiving approval of the Parliament and the President’s assent.

The Act amends certai…