DIRECT TAXES - Income-tax - FINANCE BILL, 2013

Chapter: III - Part I
DIRECT TAXES - Income-tax
Clause 3	:	Amendment of Section 2 Clause 3 of the Bill seeks to amend section 2 of the Income tax Act relating to definitions. The provision contained in clau....
Clause 4	:	Amendment of Section 10 Clause 4 of the Bill seeks to amend section 10 of the Income tax Act relating to incomes not included in total income. Under....
Clause 5	:	Insertion of new section 32AC - Investment in new plant or machinery Clause 5 of the Bill seeks to insert a new section 32AC in the Income-tax Act to provide for deduction for investment in new....
Clause 6	:	Amendment of Section 36 Clause 6 of the Bill seeks to amend section 36 of the Income tax Act relating to other deductions. The proposed amendment se....
Clause 7	:	Amendment of Section 40 Clause 7 of the Bill seeks to amend section 40 of the Incometax Act relating to amounts not deductible. The provisions of se....
Clause 8	:	Insertion of new section 43CA - Special provision for full value of consideration for transfer of assests other than capital assests in certain cases Clause 8 of the Bill seeks to insert a new section 43CA in the Income-tax Act to provide for a special provision for full va....
Clause 9	:	Amendment of section 56 Clause 9 of the Bill seeks to amend section 56 of the Incometax Act relating to income from other sources. The existing prov....
Clause 10	:	Amendment of section 80C Clause 10 of the Bill seeks to amend section 80C of the Incometax Act relating to deduction in respect of life insurance pre....
Clause 11	:	Amendment of section 80CCG Clause 11 of the Bill seeks to amend section 80CCG of the Income-tax Act relating to deduction in respect of investment made....
Clause 12	:	Amendment of section 80D Clause 12 of the Bill seeks to amend section 80D of the Incometax Act relating to deduction in respect of health insurance p....
Clause 13	:	Insertion of new section 80EE. - Deduction in respect of interest on loan taken for residential house Clause 13 of the Bill seeks to insert a new section 80EE in the Income-tax Act relating to deduction in respect of interest ....
Clause 14	:	Amendment of section 80G Clause 14 of the Bill seeks to amend section 80G of the Income-tax Act relating to deductions in respect of donations to cer....
Clause 15	:	Amendment of section 80GGB Clause 15 of the Bill seeks to amend section 80GGB of the Income-tax Act relating to deductions in respect of contributions ....
Clause 16	:	Amendment of section 80GGC Clause 16 of the Bill seeks to amend section 80GGC of the Income-tax Act relating to deductions in respect of contributions ....
Clause 17	:	Amendment of section 80-1A Clause 17 of the Bill seeks to amend section 80-IA of the Income-tax Act relating to deductions in respect of profits and ga....
Clause 18	:	Amendment of section 80JJAA Clause 18 of the Bill seeks to amend section 80JJAA of the Income-tax Act relating to deduction in respect of employment of ....
Clause 19	:	Amendment of section 87 Clauses 19 and 20 of the Bill seek to amend section 87 and insert a new section 87A in the Income-tax Act relating to rebate....
Clause 20	:	Insertion of new section 87A - Rebate of income-tax in case of certain individuals. Clauses 19 and 20 of the Bill seek to amend section 87 and insert a new section 87A in the Income-tax Act relating to rebate....
Clause 21	:	Amendment of section 90 Clause 21 of the Bill seeks to amend section 90 of the Incometax Act relating to agreement with foreign countries or specifi....
Clause 22	:	Amendment of section 90A Clause 22 of the Bill seeks to amend section 90A of the Income-tax Act relating to adoption by Central Government of agreeme....
Clause 23	:	Omission of Chapter X-A relating to General Anti-Avoidance Rule Clause 23 of the Bill seeks to omit Chapter X-A of the Incometax Act (as inserted by section 41 of the Finance Act, 2012) re....
Clause 24	:	Insertion of new Chapter X-A - GENERAL ANTI-AVOIDANCE RULE Clause 24 of the Bill seeks to insert a new Chapter X-A consisting of new sections 95, 96, 97, 98, 99, 100, 101 and 102 in t....
Clause 25	:	Amendment of section 115A Clause 25 of the Bill seeks to amend section 115A of the Income-tax Act relating to tax on dividends, royalty and technical ....
Clause 26	:	Amendment of section 115BBD Clause 26 of the Bill seeks to amend section 115BBD of the Income-tax Act relating to tax on certain dividends received from....
Clause 27	:	Amendment of section 115-O Clause 27 of the Bill seeks to amend section 115-O of the Income-tax Act relating to tax on distributed profits of domestic ....
Clause 28	:	Insertion of new Chapter XII-DA - SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME OF DOMESTIC COMPANY FOR BUY-BACK OF SHARES Clause 28 of the Bill seeks to insert a new Chapter XII-DA relating to special provisions for tax on distributed income of d....
Clause 29	:	Amendment of Section 115R Clause 29 of the Bill seeks to amend section 115R of the Income-tax Act relating to tax on distributed income to unit holder....
Clause 30	:	Insertion of new Chapter XII-EA-SPECIAL PROVISIONS RELATING TO TAX ON DISTRIBUTED INCOME BY SECURITISATION TRUSTS Clause 30 of the Bill seeks to insert a new Chapter XII-EA consisting of new sections 115TA, 115TB and 115TC in the Income-t....
Clause 31	:	Amendment of section 132B Clause 31 of the Bill seeks to amend section 132B of the Income-tax Act relating to application of seized or requisitioned a....
Clause 32	:	Amendment of section 139 Clause 32 of the Bill seeks to amend section 139 of the Incometax Act relating to return of income. The existing provisions ....
Clause 33	:	Amendment of section 142 Clause 33 of the Bill seeks to amend section 142 of the Incometax Act relating to inquiry before assessment. The existing pr....
Clause 34	:	Omission of section 144 BA Clause 34 of the Bill seeks to omit section 144BA of the Incometax Act (as inserted by section 62 of the Finance Act, 2012) ....
Clause 35	:	Insertion of new section 144 BA- Reference to Commissioner in certain cases Clause 35 of the Bill seeks to insert a new section 144BA in the Income-tax Act relating to reference to Commissioner in cer....
Clause 36	:	Amendment of section 144C Clause 36 of the Bill seeks to amend section 144C of the Income-tax Act relating to reference to dispute resolution panel. I....
Clause 37	:	Amendment of section 153 Clause 37 of the Bill seeks to amend section 153 of the Incometax Act relating to time limit for completion of assessments a....
Clause 38	:	Amendment of section 153B Clause 38 of the Bill seeks to amend section 153B of the Income-tax Act relating to time limit for completion of assessment ....
Clause 39	:	Amendment of section 153D Clause 39 of the Bill seeks to amend section 153D of the Income-tax Act relating to prior approval for assessment in cases o....
Clause 40	:	Amendment of section 167C Clause 40 of the Bill seeks to amend section 167C of the Income-tax Act relating to liability of partners of limited liabili....
Clause 41	:	Amendment of section 179 Clause 41 of the Bill seeks to amend section 179 of the Incometax Act relating to liability of directors of private company ....
Clause 42	:	Insertion of new section194-IA-Payment on transfer of certain immovable property other than agricultural land Clause 42 of the Bill seeks to insert a new section 194-IA in the Income-tax Act relating to payment on transfer of certain ....
Clause 43	:	Amendment of section 194LC Clause 43 of the Bill seeks to amend section 194LC of the Income-tax Act relating to income by way of interest from Indian c....
Clause 44	:	Amendment of section 245N Clause 44 of the Bill seeks to amend section 245N of the Income-tax Act relating to definitions in context of Advance Ruling....
Clause 45	:	Amendment of section 245R Clause 45 of the Bill seeks to amend section 245R of the Income-tax Act relating to procedure on receipt of application by A....
Clause 46	:	Amendment of section 246A Clause 46 of the Bill seeks to amend section 246A of the Income-tax Act relating to appealable orders before Commissioner (A....
Clause 47	:	Amendment of section 253 Clause 47 of the Bill seeks to amend section 253 of the Income tax Act relating to appeals to the Appellate Tribunal. It is ....
Clause 48	:	Substitution of new section for section 271FA-Penalty for failure to furnish annual information return Clause 48 of the Bill seeks to amend section 271FA of the Income-tax Act relating to penalty for failure to furnish annual i....
Clause 49	:	Amendment of Section 295 Clause 49 of the Bill seeks to amend section 295 of the Income67 tax Act relating to power to make rules. The existing provi....
Clause 50	:	Amendment of Fourth Schedule Clause 50 of the Bill seeks to amend Part A of the Fourth Schedule to the Income-tax Act relating to recognised provident fu....