<h1>Finance Bill 2011 Proposes Amendments to Income Tax, Customs Acts; Alters Section 40A, Anti-Dumping Duties, and More.</h1> The Finance Bill, 2011, presented in the Lok Sabha, includes several proposed amendments to various sections of the Income Tax Act, Customs Act, and Customs Tariff Act. Key changes involve modifications to section 40A of the Income Tax Act, adjustments to terms like 'subsidiary' and 'specified,' and alterations in assessment and re-assessment procedures. Amendments also address anti-dumping duties, with provisions to counter circumvention practices. Additionally, changes in tax rates and legal references are proposed, such as substituting 'Legal Metrology Act, 2009' for previous acts. These amendments aim to refine tax regulations and improve compliance measures.