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of <h1>Finance Act 1985: Sections 2-41 (except 32, 34, 35, 38) retroactive from April 1 for fiscal year 1985-86.</h1> The Finance Act, 1985, enacted by the Parliament of India, received presidential assent on May 24, 1985. It aims to implement the financial proposals of the Central Government for the fiscal year 1985-86. The Act, officially titled the Finance Act, 1985, specifies that sections 2 to 41, excluding sections 32, 34, 35, and 38, are retroactively effective from April 1, 1985.
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