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<h1>Finance Bill 2017: Section 10 Amendment Exempts Chief Minister's and Lieutenant Governor's Relief Funds Retroactively from April 1998.</h1> The Finance Bill, 2017 proposes an amendment to section 10, specifically clause (23C), to include exemptions for the Chief Minister's Relief Fund and the Lieutenant Governor's Relief Fund. Previously, these funds were not exempt under the existing provisions, unlike the Prime Minister's National Relief Fund. The amendment introduces a new sub-clause (iiiaaaa) to grant these exemptions, effective retrospectively from April 1, 1998. This change aligns with the provisions of section 80G, which allows deductions for contributions to these funds, applicable from the assessment year 1998-1999 onwards.
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