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of <h1>Finance Bill 2017: Amendments to Tax Exemptions, Share Valuation, Transfer Pricing & Payment Systems Governance</h1> The Finance Bill, 2017 proposes several amendments to the Income-tax Act, Customs Act, Central Excise Act, and Payment and Settlement Systems Act. Key changes include modifying conditions for tax exemptions on trust income, determining fair market value for unquoted shares, and introducing secondary adjustments in transfer pricing. The Bill also empowers authorities to create regulations concerning customs charges, application procedures before the Settlement Commission, and passenger information requirements. Additionally, it revises the governance structure under the Payment and Settlement Systems Act. These amendments delegate legislative powers for procedural details, which are not feasible to include directly in the Bill.
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