Direct Taxes - Income Tax - FINANCE BILL, 2011

Chapter: III - Part 1
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 existing provisions contain....
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. The E....
Clause 5	:	Amendment of section 35. Clause 5 of the Bill seeks to amend section 35 of the Income-tax Act relating to expenditure on scientific research. The exi....
Clause 6	:	Amendment of section 35AD. Clause 6 of the Bill seeks to amend section 35AD of the Income-tax Act relating to deduction in respect of expenditure on sp....
Clause 7	:	Amendment of section 36. Clause 7 of the Bill seeks to amend section 36 of the Income-tax Act relating to other deductions. The existing provisions o....
Clause 8	:	Amendment of section 80CCE Clause 8 of the Bill seeks to amend section 80CCE of the Income-tax Act relating to the limit on deductions under sections 8....
Clause 9	:	Amendment of section 80CCF Clause 9 of the Bill seeks to amend section 80CCF of the Income-tax Act relating to deduction in respect of subscription to ....
Clause 10	:	Amendment of section 80-IA. Clause 10 of the Bill seeks to amend section 80-IA of the Income-tax Act relating to deductions in respect of profits and ga....
Clause 11	:	Amendment of section 80-IB. Clause 11 of the Bill seeks to amend section 80-IB of the Income-tax Act, relating to deduction in respect of profits and ga....
Clause 12	:	Amendment of section 92C. Clause 12 seeks to amend section 92C of the Income-tax Act, relating to computation of arm s length price. Under the existin....
Clause 13	:	Amendment of section 92CA. Clause 13 of the Bill seeks to amend section 92CA of the Income-tax Act relating to reference to Transfer Pricing Officer. U....
Clause 14	:	Insertion of new section 94A- Special measures in respect of transactions with persons located in notified jurisdictional area. Clause 14 of the Bill seeks to insert a new section 94A in the Income-tax Act relating to special measures in respect of tra....
Clause 15	:	Amendment of section 115A. Clause 15 of the Bill seeks to amend section 115A of the Income-tax Act, relating to tax on dividends, royalty and technical....
Clause 16	:	Insertion of new section 115BBD- Tax on certain dividends received from foreign companies Clause 16 of the Bill seeks to insert a new section 115BBD in the Income-tax Act relating to tax on certain dividends receiv....
Clause 17	:	Amendment of section 115JB. Clause 17 of the Bill seeks to amend section 115JB of the Income-tax Act relating to special provision for payment of tax by....
Clause 18	:	Insertion of new Chapter XII-BA- Special provisions for payment of tax by certain limited liability partnerships- Tax credit for alternate minimum tax Clause 18 of the Bill seeks to insert a new Chapter XII-BA [consisting of new sections 115JC, 115JD, 115JE and 115JF] in the....
Clause 19	:	Amendment of section 115-O. Clause 19 of the Bill seeks to amend section 115-O of the Income-tax Act relating to tax on distributed profits of domestic ....
Clause 20	:	Amendment of section 115R. Clause 20 of the Bill seeks to amend section 115R of the Income-tax Act relating to tax on distributed income to unit holder....
Clause 21	:	Amendment of section 131. Clause 21 of the Bill seeks to amend section 131 of the Income- tax Act relating to power regarding discovery, production of....
Clause 22	:	Amendment of section 133. Clause 22 of the Bill seeks to amend section 133 of the Income-tax Act relating to power to call for information. Under the ....
Clause 23	:	Amendment of section 139. Clause 23 of the Bill seeks to amend section 139 of the Income-tax Act relating to return of income. Under the existing prov....
Clause 24	:	Amendment of section 143. Clause 24 of the Bill seeks to amend section 143 of the Income-tax Act relating to assessment. Under the existing provisions....
Clause 25	:	Amendment of section 153. Clause 25 of the Bill seeks to amend section 153 of the Income-tax Act relating to time limit for completion of assessments ....
Clause 26	:	Amendment of section 153B. Clause 26 of the Bill seeks to amend section 153B of the Income-tax Act relating to time limit for completion of assessment ....
Clause 27	:	Insertion of new section 194LB-Income by way of interest from infrastructure debt fund Clause 27 of the Bill seeks to insert a new section 194LB in the Income-tax Act relating to income by way of interest from a....
Clause 28	:	Amendment of section 245C. Clause 28 of the Bill seeks to amend section 245C of the Income-tax Act relating to application for settlement of cases. The....
Clause 29	:	Amendment of section 245D. Clause 29 of the Bill seeks to amend section 245D of the Income-tax Act relating to procedure on receipt of an application u....
Clause 30	:	Omission of section 282B. Clause 30 of the Bill seeks to omit section 282B of the Income-tax Act relating to allotment of Document Identification Numb....
Clause 31	:	Insertion of new section 285- Submission of statement by a non-resident having liaison office. Clause 31 of the Bill seeks to insert a new section 285 [in place of said section which was omitted by the Finance Act, 1987....
Clause 32	:	Amendment of section 296. Clause 32 of the Bill seeks to amend section 296 of the Income-tax Act relating to rules and certain notifications to be pla....
Clause 33	:	Amendment of Fourth Schedule. Clause 33 of the Bill seeks to amend Part A of the Fourth Schedule to the Income-tax Act, relating to recognised provident f....