Question

Which article of Indian constitution has the description of procedure of money bill?

Answer 1

Answer:

A money bill is deemed to have passed both houses with any recommended amendments the Lok Sabha chooses to accept, and without any that it chooses to decline. The definition of "Money Bill" is given in Article 110 of The Constitution of India.

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Answer 2

1. Article 110 of the Indian Constitution has the description of money bill.

2. What is money bill- A money bill is generally concerned with the issues related to taxes, borrowing and expenditure of money, audits and accounting, consolidated and contingency funds etc.

3. A money bill is defined under Article 110(1) of the Indian Constitution which states that a bill is said to be a money bill only if it deals with the provisions either related to all or any of the following matters-

•The imposition, abolition, remission, alteration or regulation of any tax.

•The regulation of the borrowing of money or the giving of any guarantee by the Government of India or the amendment of the law with respect to any financial obligation undertaken or to be undertaken by the Government of India.

•The custody of the consolidated and the contingency fund, the payment of money or withdrawal of money from these Funds.