Finance Act 2021 changes income-tax rates, surcharges, TDS/TCS, assessments and dispute resolution mechanisms, and customs tariffs. The Finance Act, 2021 prescribes income-tax rates for the 2021-22 assessment year, surcharge slabs, and a 4% Health and Education Cess, and enacts wide amendments to the Income-tax Act including new provisions on deemed transfers on reconstitution/dissolution of specified entities, capital-gains and goodwill treatment, IFSC-related tax measures, modified TDS/TCS rules (including new sections for non-filers, high-value purchases and specified senior citizens), revised assessment and notice procedures (including pre-notice enquiry under section 148A), and institutional reforms for settlement and advance rulings; it also revises customs and excise tariff classifications and duty rates.