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<h1>Taxation Laws (Amendment) Act, 2016 amends Income-Tax Act, 1961, and Customs Tariff Act, 1975; effective immediately.</h1> The Taxation Laws (Amendment) Act, 2016, enacted by the Indian Parliament, received presidential assent on September 8, 2016. This Act amends the Income-Tax Act, 1961, and the Customs Tariff Act, 1975. It is officially titled the Taxation Laws (Amendment) Act, 2016, and is designated as Act No. 47 of 2016. The Act is effective immediately upon enactment, unless specified otherwise within its provisions.