<h1>Finance Bill 2016: Changes to capital gains, dividends tax, patent income, and tax procedures. Effective April 1, 2017.</h1> The Finance Bill, 2016, passed by the Lok Sabha, includes several amendments proposed by the Finance Minister. Key changes involve modifications to the holding period for unlisted company shares, adjustments to deductions and income assessments, and revisions to sections related to capital gains and income tax on dividends. The amendments also address taxation of income from patents, collection of tax on high-value motor vehicle sales, and procedural changes for tax assessments and appeals. Additionally, provisions for housing projects and limited liability partnerships are updated, with various clauses set to take effect from April 1, 2017.