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of <h1>Finance Act 2016 Enforces Central Government's Financial Plans for Fiscal Year with Sections 2-115 Retroactive from April 1</h1> The Finance Act, 2016, enacted by the Indian Parliament, implements the Central Government's financial proposals for the fiscal year 2016-2017. It is designated as Act No. 28 of 2016 and came into effect on May 14, 2016. The Act is structured into chapters, with sections 2 to 115 being retroactively effective from April 1, 2016, unless specified otherwise within the Act.
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