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of <h1>Finance Bill 2016: Clause 176 empowers government to set rules for Equalisation Levy; Parliament review required.</h1> Clause 176 of the Finance Bill, 2016 grants the Central Government authority to establish rules to implement the provisions of the chapter on Equalisation Levy. The rules may cover the timing, form, and manner of statement submissions, appeal filing and verification, and other prescribed matters. Any rules made must be presented to both Houses of Parliament for a total of thirty days, during which modifications or annulments can be agreed upon. Such changes will not affect the validity of actions previously taken under the original rules.
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