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Bill
Home Acts & Rules Bill Bills FINANCE BILL, 2020 Chapter III = DIRECT TAXES - Income-tax Chapters List This

DIRECT TAXES - Income-tax - FINANCE BILL, 2020

Chapter: III
DIRECT TAXES - Income-tax
Clause 3 : Amendment of section 2.

       Clause 3 of this Bill seeks to amend section 2 of the Income-tax Act relating to definitions. Clause(13A) of the said section....
Clause 4 : Amendment of section 6.

       Clause 4 of the Bill seeks to amend section 6 of the Income-tax Act relating to residence in India. Clause (1) of said sectio....
Clause 5 : Amendment of section 9.

       Clause 5 of the Bill seeks to amend section 9 of the Income-tax Act relating to income deemed to accrue or arise in India. Cl....
Clause 6 : Amendment of section 9A.

       Clause 6 of the Bill seeks to amend section 9A of the Income-tax Act relating to certain activities not to constitute busines....
Clause 7 : Amendment of section 10.

       Clause 7 of the Bill seeks to amend section 10 of the Income-tax Act relating to incomes not included in total income. First ....
Clause 8 : Amendment of section 10A.

       Clause 8 of the Bill seeks to amend section 10A of the Income-tax Act relating to special provision in respect of newly estab....
Clause 9 : Amendment of section 11.

       Clause 9 of the Bill seeks to amend section 11 of the Income-tax Act relating to income from property held for charitable or ....
Clause 10 : Amendment of section 12A.

       Clause 10 of the Bill seeks to amend section 12A of the Income-tax Act relating to conditions for applicability of sections 1....
Clause 11 : Amendment of section 12AA.

       Clause 11 of the Bill seeks to amend section 12AA of the Income-tax Act relating to procedure for registration. It is propose....
Clause 12 : Insertion of new section 12AB.

       Clause 12 of the Bill seeks to insert a new section 12AB in the Income-tax Act relating to procedure for fresh registration. ....
Clause 13 : Amendment of section 17.

       Clause 13 of the Bill seeks to amend section 17 of the Income-tax Act relating to “salary”, “perquisite&rdq....
Clause 14 : Amendment of section 32AB.

       Clause 14 of the Bill seeks to amend section 32AB of the Income-tax Act relating to investment deposit account. Sub-section (....
Clause 15 : Amendment of section 33AB.

       Clause 15 of the Bill seeks to amend section 33AB of the Income-tax Act relating to tea development account, coffee developme....
Clause 16 : Amendment of section 33ABA.

       Clause 16 of the Bill seeks to amend section 33ABA of the Income-tax Act relating to Site Restoration Fund. Sub-section (1) o....
Clause 17 : Amendment of section 35.

       Clause 17 of the Bill seeks to amend section 35 of the Income-tax Act relating to expenditure on scientific research. Sub-sec....
Clause 18 : Amendment of section 35AD.

       Clause 18 of the Bill seeks to amend section 35AD of the Income-tax Act relating to deduction in respect of expenditure on sp....
Clause 19 : Amendment of section 35D.

       Clause 19 of the Bill seeks to amend section 35D of the Income-tax Act relating to amortisation of certain preliminary expens....
Clause 20 : Amendment of section 35E.

       Clause 20 of the Bill seeks to amend section 35E of the Income-tax Act relating to deduction for expenditure on prospecting, ....
Clause 21 : Amendment of section 43.

       Clause 21 of the Bill seeks to amend section 43 of the Income-tax Act relating to definitions of certain terms relevant to in....
Clause 22 : Amendment of section 43CA.

       Clause 22 of the Bill seeks to amend section 43CA of the Income-tax Act relating to special provision for full value of consi....
Clause 23 : Amendment of section 44AB.

       Clause 23 of the Bill seeks to amend section 44AB of the Income-tax Act relating to audit of accounts of certain persons carr....
Clause 24 : Amendment of section 44DA.

       Clause 24 of the Bill seeks to amend section 44DA of the Income-tax Act relating to special provision for computing income by....
Clause 25 : Amendment of section 49.

       Clause 25 of the Bill seeks to amend section 49 of the Income-tax Act relating to cost with reference to certain modes of acq....
Clause 26 : Amendment of section 50B.

       Clause 26 of the Bill seeks to amend section 50B of the Income-tax Act relating to special provision for computation of capit....
Clause 27 : Amendment of section 50C.

       Clause 27 of the Bill seeks to amend section 50C of the Income-tax Act relating to special provision for full value of consid....
Clause 28 : Amendment of section 55.

       Clause 28 of the Bill seeks to amend section 55 of the Income-tax Act relating to meaning of “adjusted”, “c....
Clause 29 : Amendment of section 56.

       Clause 29 of the Bill seeks to amend section 56 of the Income-tax Act relating to income from other sources. Sub-section (2) ....
Clause 30 : Amendment of section 57.

       Clause 30 of the Bill seeks to amend section 57 of the Income-tax Act relating to deductions. Clause (i) of the said section ....
Clause 31 : Substitution of new section for section 72AA.

       Clause 31 of the Bill seeks to substitute section 72AA of the Income-tax Act, relating to carry forward and set-off of accumu....
Clause 32 : Amendment of section 80EEA.

       Clause 32 of the Bill seeks to amend section 80EEA of the Income-tax Act relating to deduction in respect of interest on loan....
Clause 33 : Amendment of section 80G.

       Clause 33 of the Bill seeks to amend section 80G of the Income-tax Act relating to deduction in respect of donations to certa....
Clause 34 : Amendment of section 80GGA.

       Clause 34 of the Bill seeks to amend section 80GGA of the Income-tax Act relating to deduction in respect of certain donation....
Clause 35 : Amendment of section 80-IA.

       Clause 35 of the Bill seeks to amend section 80-IA of the Income-tax Act relating to deductions in respect of profits and gai....
Clause 36 : Amendment of section 80-IAC.

       Clause 36 of the Bill seeks to amend section 80-IAC of the Income-tax Act relating to special provision in respect of specifi....
Clause 37 : Amendment of section 80-IB.

       Clause 37 of the Bill seeks to amend section 80-IB of the Income-tax Act relating to deduction in respect of profits and gain....
Clause 38 : Amendment of section 80-IBA.

       Clause 38 of the Bill seeks to amend section 80-IBA of the Income-tax Act relating to deductions in respect of profits and ga....
Clause 39 : Amendment of section 80JJAA.

       Clause 39 of the Bill seeks to amend section 80JJAA of the Income-tax Act relating to deduction in respect of employment of n....
Clause 40 : Insertion of new section 80M.

       Clause 40 of the Bill seeks to insert new section 80M relating to deduction in respect of certain inter-corporate dividends. ....
Clause 41 : Amendment of section 90.

       Clause 41 of the Bill seeks to amend section 90 of the Income-tax Act relating to agreement with foreign countries or specifi....
Clause 42 : Amendment of section 90A.

       Clause 42 of the Bill seeks to amend section 90A of the Income-tax Act relating to adoption by Central Government of agreemen....
Clause 43 : Amendment of section 92CB.

       Clause 43 of the Bill seeks to amend section 92CB of the Income-tax Act relating to power of Board to make safe harbour rules....
Clause 44 : Amendment of section 92CC.

       Clause 44 of the Bill seeks to amend section 92CC of the Income-tax Act relating to advance pricing agreement. It is proposed....
Clause 45 : Amendment of section 92F.

       Clause 45 of the Bill seeks to amend section 92F of the Income-tax Act relating to definitions of certain terms relevant to c....
Clause 46 : Amendment of section 94B.

       Clause 46 of the Bill seeks to amend section 94B of the Income-tax Act relating to limitation on interest deduction in certai....
Clause 47 : Amendment of section 115A.

       Clause 47 of the Bill seeks to amend section 115A of the Income-tax Act relating to tax on dividends, royalty and technical s....
Clause 48 : Amendment of section 115AC.

       Clause 48 of the Bill seeks to amend section 115AC of the Income-tax Act relating to tax on income from bonds or Global Depos....
Clause 49 : Amendment of section 115ACA.

       Clause 49 of the Bill seeks to amend section 115ACA of the Income-tax Act relating to tax on income from Global Depository Re....
Clause 50 : Amendment of section 115AD.

       Clause 50 of the Bill seeks to amend section 115AD of the Income-tax Act relating to tax on income of Foreign Institutional I....
Clause 51 : Amendment of section 115BAA.

       Clause 51 of the Bill seeks to amend section 115BAA relating to tax on income of certain domestic companies. It is proposed t....
Clause 52 : Amendment of section 115BAB.

       Clause 52 of the Bill seeks to amend section 115BAB of the Income-tax Act relating to tax on income of new manufacturing dome....
Clause 53 : Insertion of new sections 115BAC and 115BAD.

       Clause 53 of the Bill seeks to insert new sections 115BAC in the Income-tax Act relating to tax on income of individuals and ....
Clause 54 : Amendment of section 115BBDA.

       Clause 54 of the Bill seeks to amend section 115BBDA of the Income-tax Act relating to tax on certain dividends received from....
Clause 55 : Amendment of section 115C.

       Clause 55 of the Bill seeks to amend section 115C of the Income-tax Act relating to definitions. Clause (c) of the said secti....
Clause 56 : Amendment of section 115JB.

       Clause 56 of the Bill seeks to amend section 115JB of the Income-tax Act relating to special provision for payment of tax by ....
Clause 57 : Amendment of section 115JC.

       Clause 57 of the Bill seeks to amend section 115JC of the Income-tax Act relating to special provisions for payment of tax by....
Clause 58 : Amendment of section 115JD.

       Clause 58 of the Bill seeks to amend section 115JD of the Income-tax Act relating to tax credit for alternate minimum tax. It....
Clause 59 : Amendment of section 115-O.

       Clause 59 of the Bill seeks to amend section 115-O of the Income-tax Act relating tax on distributed profits of domestic comp....
Clause 60 : Amendment of section 115R.

       Clause 60 of the Bill seeks to amend section 115R of the Income-tax Act relating to tax on distributed income to unit holders....
Clause 61 : Amendment of section 115TD.

       Clause 61 of the Bill seeks to amend section 115TD of the Income-tax Act relating to tax on accreted income. Sub-section (1) ....
Clause 62 : Amendment of section 115UA.

       Clause 62 of the Bill seeks to amend section 115UA of the Income-tax Act relating to tax on income of unit holder and busines....
Clause 63 : Amendment of section 115VW.

       Clause 63 of the Bill seeks to amend section 115VW of the Income-tax Act relating to maintenance and audit of accounts. The s....
Clause 64 : Insertion of new section 119A.

       Clause 64 of the Bill seeks to insert a new section 119A so as to empower the Board to adopt and declare a Taxpayer’s C....
Clause 65 : Amendment of section 133A.

       Clause 65 of the Bill seeks to amend section 133A of the Income-tax Act relating to power of survey. The proviso to the said ....
Clause 66 : Amendment of section 139.

       Clause 66 of the Bill seeks to amend section 139 of the Income-tax Act relating to return of income. Clause (a) of Explanatio....
Clause 67 : Amendment of section 140.

       Clause 67 of the Bill seeks to amend section 140 of the Income-tax Act relating to return by whom to be verified. The said se....
Clause 68 : Amendment of section 140A.

       Clause 68 of the Bill seeks to amend section 140A of the Income-tax Act relating to self-assessment. Sub-section (1) of the s....
Clause 69 : Amendment of section 143.

       Clause 69 of the Bill seeks to amend section 143 of the Income-tax Act relating to assessment. Sub-section (3A) of the said s....
Clause 70 : Amendment of section 144C.

       Clause 70 of the Bill seeks to amend section 144C of the Income-tax Act relating to reference to dispute resolution panel. Su....
Clause 71 : Amendment of section 156.

       Clause 71 of the Bill seeks to amend section 156 of the Income-tax Act, relating to notice of demand. The said section, inter....
Clause 72 : Amendment of section 191.

       Clause 72 of the Bill seeks to amend section 191 of the Income-tax Act relating to direct payment. The said section provides ....
Clause 73 : Amendment of section 192.

       Clause 73 of the Bill seeks to amend section 192 of the Income-tax Act, relating to salary. Sub-section (1) of the said secti....
Clause 74 : Amendment of section 194.

       Clause 74 of the Bill seeks to amend section 194 of the Income-tax Act relating to dividends. The said section, inter alia, p....
Clause 75 : Amendment of section 194A.

       Clause 75 of the Bill seeks to amend section 194A of the Income-tax Act relating to interest other than “Interest on se....
Clause 76 : Amendment of section 194C.

       Clause 76 of the Bill seeks to amend section 194C of the Income-tax Act relating to payments to contractors. Sub-section (1) ....
Clause 77 : Amendment of section 194H.

       Clause 77 of the Bill seeks to amend section 194H of the Income-tax Act relating to commission or brokerage. The said section....
Clause 78 : Amendment of section 194-I.

       Clause 78 of the Bill seeks to amend 194-I of the Income-tax Act relating to rent. The said section provides that any person,....
Clause 79 : Amendment of section 194J.

       Clause 79 of the Bill seeks to amend section 194J of the Income-tax Act relating to fees for professional or technical servic....
Clause 80 : Insertion of new section 194K.

       Clause 80 of the Bill seeks to insert a new section 194K relating to income in respect of units. The said section, inter alia....
Clause 81 : Amendment of section 194LBA.

       Clause 81 of the Bill seeks to amend section 194LBA of the Income-tax Act relating to certain income from units of a business....
Clause 82 : Amendment of section 194LC.

       Clause 82 seeks to amend section 194LC of the Income-tax Act relating to income by way of interest from Indian company. Sub-s....
Clause 83 : Amendment of section 194LD.

       Clause 83 of the Bill seeks to amend section 194LD of the Income-tax Act relating to income by way of interest on certain bon....
Clause 84 : Insertion of new section 194-O.

       Clause 84 of the Bill seeks to insert a new section 194-O in the Income-tax Act relating to payment of certain sums by e-comm....
Clause 85 : Amendment of section 195.

       Clause 85 of the Bill seeks to amend section 195 of the Income-tax Act relating to other sums. The second proviso of sub-sect....
Clause 86 : Amendment of section 196A.

       Clause 86 of the Bill seeks to amend section 196A of the Income-tax Act relating to income in respect of units of non-residen....
Clause 87 : Amendment of section 196C.

       Clause 87 of the Bill seeks to amend section 196C of the Income-tax Act relating to income from foreign currency bonds or sha....
Clause 88 : Amendment of section 196D.

       Clause 88 of the Bill seeks to amend section 196D of the Income-tax Act relating to income of Foreign Institutional Investors....
Clause 89 : Amendment of section 197.

       Clause 89 of the Bill seeks to amend section 197 of the Income-tax Act relating to certificate for deduction at lower rate. I....
Clause 90 : Omission of section 203AA.

       Clause 90 of the Bill seeks to amend section 203AA of the Income-tax Act relating to furnishing of statement of tax deducted.....
Clause 91 : Amendment of section 204.

       Clause 91 of the Bill seeks to amend section 204 of the Income-tax Act relating to meaning of “person responsible for p....
Clause 92 : Amendment of section 206AA.

       Clause 92 of the Bill seeks to amend section 206AA of the Income-tax Act relating to requirement to furnish Permanent Account....
Clause 93 : Amendment of section 206C.

       Clause 93 of the Bill seeks to amend section 206C of the Income-tax Act, relating to profits and gains from the business of t....
Clause 94 : Insertion of new section 234G.

       Clause 94 of the Bill seeks to insert a new section 234G of the Income-tax Act relating to fee for default relating to statem....
Clause 95 : Amendment of section 250.

       Clause 95 of the Bill seeks to amend section 250 of the Income-tax Act, 1961 relating to procedure in appeal. It is proposed ....
Clause 96 : Amendment of section 253.

       Clause 96 of the Bill seeks to amend section 253 of the Income-tax Act relating to appeals to the Appellate Tribunal. Sub-sec....
Clause 97 : Amendment of section 254.

       Clause 97 of the Bill seeks to amend section 254 of the Income-tax Act relating to orders of Appellate Tribunal. It is propos....
Clause 98 : Insertion of new section 271AAD.

       Clause 98 of the Bill seeks to insert a new section 271AAD in the Income-tax Act relating to penalty for false or omission of....
Clause 99 : Insertion of new section 271K.

       Clause 99 of the Bill seeks to insert a new section 271K in the Income-tax Act relating to penalty for failure to furnish sta....
Clause 100 : Amendment of section 274.

       Clause 100 of the Bill seeks to amend section 274 of the Income-tax Act relating to procedure. It is proposed to insert sub-s....
Clause 101 : Insertion of new section 285BB.

       Clause 101 of the Bill seeks to insert a new section 285BB in the Income-tax Act relating to annual information statement so ....
Clause 102 : Amendment of section 288.

       Clause 102 of the Bill seeks to amend section 288 of the Income-tax Act relating to appearance by authorised representative. ....
Clause 103 : Amendment of section 295.

       Clause 103 of the Bill seeks to amend section 295 of the Income-tax Act relating to power to make rules. Sub-section (1) of s....
Clause 104 : Amendment of First Schedule.

       Clause 104 of the Bill seeks to amend rule 5 of the First Schedule of the Income-tax Act relating to computation of profits a....
 
 

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