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Bill

Home Acts & Rules Bill Bills FINANCE BILL, 2010 Chapters List This

FINANCE BILL, 2010

Chapter: I
Preliminary
Clause 1 : Short Title and Commencement
Chapter: II
Rates of Income Tax
Clause 2 : Rates of Income-Tax

        Clause 2, read with the First Schedule to the Bill specifies the rates at which income-tax is to be levied on income chargea....
Chapter: III - Part 1
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 provision containe....
Clause 4 : Amendment of section 9

        Clause 4 of the Bill seeks to amend section 9 of the Income-tax Act relating to income deemed to accrue or arise in India. T....
Clause 5 : Amendment of section 10

        Clause 5 of the Bill seeks to amend section 10 of the Income tax Act relating to incomes not included in total income. Under....
Clause 6 : Amendment of section 10AA

        Clause 6 of the Bill seeks to amend section 10AA of the Incometax Act relating to special provision in respect of newly esta....
Clause 7 : Amendment of section 12AA

        Clause 7 of the Bill seeks to amend section 12AA of the Income tax Act relating to procedure for registration of a trust or ....
Clause 8 : Amendment of section 32

        Clause 8 of the Bill seeks to amend section 32 of the Income tax Act relating to depreciation. The existing provisions conta....
Clause 9 : Amendment of section 35

        Clause 9 of the Bill seeks to amend section 35 of the Income tax Act relating to expenditure on research. Sub-clause (i) of ....
Clause 10 : Amendment of section 35AD

        Clause 10 of the Bill seeks to amend section 35AD of the Income tax Act relating to deductions in respect of expenditure on ....
Clause 11 : Amendment of section 35DDA

        Clause 11 of the Bill seeks to amend section 35DDA of the Income-tax Act relating to amortisation of expenditure incurred un....
Clause 12 : Amendment of section 40

        Clause 12 of the Bill seeks to amend section 40 of the Income tax Act relating to amounts not deductible. Under the existing....
Clause 13 : Amendment of section 43

        Clause 13 of the Bill seeks to amend section 43 of the Income tax Act relating to definitions of certain terms relevant to i....
Clause 14 : Amendment of section 44AB

        Clause 14 of the Bill seeks to amend section 44AB of the Income tax Act relating to audit of accounts of certain persons car....
Clause 15 : Amendment of section 44AD

        Clause 15 of the Bill seeks to amend section 44AD of the Income tax Act relating to special provision for computing profits ....
Clause 16 : Amendment of section 44BB

        Clause 16 of the Bill seeks to amend section 44BB of the Income tax Act relating to special provision for computing profits ....
Clause 17 : Amendment of section 44DA

        Clause 17 of the Bill seeks to amend section 44DA of the Income tax Act relating to special provision for computing income b....
Clause 18 : Amendment of section 47

        Clause 18 of the Bill seeks to amend section 47 of the Income tax Act relating to transactions not regarded as transfer. The....
Clause 19 : Amendment of section 47A

        Clause 19 of the Bill seeks to amend section 47A of the Income tax Act relating to withdrawal of exemption in certain cases.....
Clause 20 : Amendment of section 49

        Clause 20 of the Bill seeks to amend section 49 of the Income tax Act relating to cost with reference to certain modes of ac....
Clause 21 : Amendment of section 56

        Clause 21 of the Bill seeks to amend section 56 of the Income tax Act relating to income from other sources. Under the exist....
Clause 22 : Amendment of section 72A

        Clause 22 of the Bill seeks to amend section 72A of the Income tax Act, relating to carry forward and set off of accumulated....
Clause 23 : Amendment of section 80A

        Clause 23 of the Bill seeks to amend section 80A of the Income tax Act, relating to deductions to be made in computing total....
Clause 24 : Insertion of new section 80CCF

        Clause 24 of the Bill seeks to insert a new section 80CCF in the Income-tax Act relating to deduction in respect of subscrip....
Clause 25 : Amendment of section 80D

        Clause 25 of the Bill seeks to amend section 80D of the Income tax Act, relating to deduction in respect of health insurance....
Clause 26 : Amendment of section 80GGA

        Clause 26 of the Bill seeks to amend section 80GGA of the Income-tax Act relating to deduction in respect of certain donatio....
Clause 27 : Amendment of section 80-IB

        Clause 27 of the Bill seeks to amend section 80-IB of the Income tax Act relating to deduction in respect of profits and gai....
Clause 28 : Amendment of section 80-ID

        Clause 28 of the Bill seeks to amend section 80-ID of the Income tax Act relating to deduction in respect of profits and gai....
Clause 29 : Amendment of section 115JAA

        Clause 29 of the Bill seeks to amend section 115JAA of the Income-tax Act relating to tax credit in respect of tax paid on d....
Clause 30 : Amendment of section 115JB

        Clause 30 of the Bill seeks to amend section 115JB of the Income-tax Act relating to special provision for payment of tax by....
Clause 31 : Amendment of section 115WE

        Clause 31 of the Bill seeks to amend section 115WE of the Income-tax Act relating to assessment. Under the existing provisio....
Clause 32 : Amendment of section 139

        Clause 32 of the Bill seeks to amend section 139 of the Income tax Act relating to return of income. Under the existing prov....
Clause 33 : Amendment of section 142A

        Clause 33 of the Bill seeks to amend section 142A of the Income tax Act relating to estimate by Valuation Officer in certain....
Clause 34 : Amendment of section 143

        Clause 34 of the Bill seeks to amend section 143 of the Income tax Act relating to assessment. Under the existing provisions....
Clause 35 : Amendment of section 194B

        Clause 35 of the Bill seeks to amend section 194B of the Income tax Act relating to winnings from lottery or crossword puzzl....
Clause 36 : Amendment of section 194BB

        Clause 36 of the Bill seeks to amend section 194BB of the Income-tax Act relating to winnings from horse race. Under the exi....
Clause 37 : Amendment of section 194C

        Clause 37 of the Bill seeks to amend section 194C of the Income-tax Act relating to payments to contractors. Under the exist....
Clause 38 : Amendment of section 194D

        Clause 38 of the Bill seeks to amend section 194D of the Income tax Act relating to insurance commission. Under the existing....
Clause 39 : Amendment of section 194H

        Clause 39 of the Bill seeks to amend section 194H of the Income-tax Act relating to commission or brokerage. Under the exist....
Clause 40 : Amendment of section 194-I

        Clause 40 of the Bill seeks to amend section 194-I of the Income tax Act relating to rent. Under the existing provisions con....
Clause 41 : Amendment of section 194J

        Clause 41 of the Bill seeks to amend section 194J of the Income tax Act relating to fees for professional or technical servi....
Clause 42 : Amendment of section 201

        Clause 42 of the Bill seeks to amend section 201 of the Income tax Act relating to consequences of failure to deduct or pay ....
Clause 43 : Amendment of section 203

        Clause 43 of the Bill seeks to amend section 203 of the Income tax Act relating to certificate for tax deducted. Under the e....
Clause 44 : Amendment of section 206C

        Clause 44 of the Bill seeks to amend section 206C of the Income tax Act relating to profits and gains from the business of t....
Clause 45 : Amendment of section 245A

        Clause 45 of the Bill seeks to amend section 245A of the Income tax Act relating to definitions. Under the existing provisio....
Clause 46 : Amendment of section 245C

        Clause 46 of the Bill seeks to amend section 245C of the Income tax Act relating to application for settlement of cases. Und....
Clause 47 : Amendment of section 245D

        Clause 47 of the Bill seeks to amend section 245D of the Income tax Act relating to the procedure on receipt of an applicati....
Clause 48 : Amendment of section 256

        Clause 48 of the Bill seeks to amend section 256 of the Income tax Act relating to statement of case to the High Court. The ....
Clause 49 : Amendment of section 260A

        Clause 49 of the Bill seeks to amend section 260A of the Income tax Act relating to appeal to High Court. The existing provi....
Clause 50 : Amendment of section 271B

        Clause 50 of the Bill seeks to amend section 271B of the Income tax Act relating to failure to get accounts audited. The exi....
Clause 51 : Amendment of section 282B

        Clause 51 of the Bill seeks to amend section 282B of the Income-tax Act relating to allotment of Document Identification Num....
Clause 52 : Amendment of First Schedule

        Clause 52 of the Bill seeks to amend rule 5 of the First Schedule to the Income-tax Act relating to computation of profits a....
Chapter: III - Part 2
Wealth Tax
Clause 53 : Amendment of section 22A

        Clause 53 of the Bill seeks to amend section 22A of the Wealth tax Act relating to definitions. Under the existing provision....
Clause 54 : Amendment of section 22D

        Clause 54 of the Bill seeks to amend section 22D of the Wealth tax Act relating to procedure on receipt of an application un....
Clause 55 : Amendment of section 27

        Clause 55 of the Bill seeks to amend section 27 of the Wealth tax Act relating to reference to High Court. The existing prov....
Clause 56 : Amendment of section 27A

        Clause 56 of the Bill seeks to amend section 27A of the Wealth tax Act relating to appeal to High Court. The existing provis....
Chapter: IV - Part 1
Customs
Clause 57 : Amendment of section 127B

        Clause 57 of the Bill seeks to amend section 127B of the Customs Act with a view to substitute the words but excluding the g....
Clause 58 : Amendment of section 127C

        Clause 58 of the Bill seeks to amend sub-section (6) of section 127C of the Customs Act to insert a proviso therein with a v....
Clause 59 : Amendment of section127L

        Clause 59 of the Bill seeks to amend section 127L of the Customs Act with a view to make certain amendments in sub-section (....
Clause 60 : Amendment of notification sissued under sub-section (1) of section 25 of the Customs Act

        Clause 60 of the Bill seeks to amend notification numbers G.S.R. 118(E), dated 1st March, 2002 and G.S.R. 92(E), dated 1st M....
Clause 61 : Amendment of section 3

        Clause 61 of the Bill seeks to substitute the first proviso in subsection (2) of section 3 of the Customs Tariff Act, so as ....
Clause 62 : Amendment of First Schedule

        Clause 62 of the Bill seeks to amend the First Schedule to the Customs Tariff Act so as to amend the First Schedule in the m....
Chapter: IV - Part 2
Excise
Clause 63 : Amendment of section 11A

        Clause 63 of the Bill seeks to amend sub-section (2B) of section 11A of the Central Excise Act so as to insert an Explanatio....
Clause 64 : Amendment of section 32E

        Clause 64 of the Bill seeks to amend section 32E of the Central Excise Act with a view to substitute the words but excluding....
Clause 65 : Amendment of section 32F

        Clause 65 of the Bill seeks to amend section 32F of the Central Excise Act with a view to provide that the period specified ....
Clause 66 : Amendment of section 32-O

        Clause 66 of the Bill seeks to amend section 32-O of the Central Excise Act with a view to make certain amendments in sub-se....
Clause 67 : Amendment of section 37

        Clause 67 of the Bill seeks to insert a new clause (xiiia) in subsection (2) of section 37 of the Central Excise Act so as t....
Clause 68 : Amendment of Central Excise Rules, 1944 by insertion of new rule 57CCC

        Clause 68 of the Bill seeks to amend the Central Excise Rules, 1944 by inserting a new rule 57CCC in the manner specified in....
Clause 69 : Amendment of rule 57AD of Central Excise Rules, 1944

        Clause 69 of the Bill seeks to amend rule 57AD of the Central Excise Rules, 1944 in the manner specified in column (3) of th....
Clause 70 : Amendment of rule 6 of CENVAT Credit Rules, 2001

        Clause 70 of the Bill seeks to amend rule 6 of the CENVAT Credit Rules, 2001 in the manner specified in column (3) of the Si....
Clause 71 : Amendment of rule 6 of CENVAT Credit Rules, 2002

        Clause 71 of the Bill seeks to amend rule 6 of the CENVAT Credit Rules, 2002 in the manner specified in column (3) of the Se....
Clause 72 : Amendment of rule 6 of CENVAT Credit Rules, 2004

        Clause 72 of the Bill seeks to amend rule 6 of the CENVAT Credit Rules, 2004 in the manner specified in column (3) of the Ei....
Clause 73 : Amendment of notification issued under rule 5 of the CENVAT Credit Rules, 2004

        Clause 73 of the Bill seeks to amend notification issued under rule 5 of the CENVAT Credit Rules, 2004 so as to substitute t....
Clause 74 : Amendment of First Schedule to Act 5 of 1986

        Clause 74 of the Bill seeks to amend the First Schedule to the Central Excise Tariff Act in the manner specified in the Nint....
Chapter: V
Service Tax
Clause 75 : Amendment of Act 32 of 1994

        Clause 75 of the Bill seeks to amend Chapter V of the Finance Act, 1994, relating to service tax in the following manner, na....
Clause 76 : Validation of action taken under subclause (zzzz) of clause (105) of section 65

        Clause 76 of the Bill seeks to validate certain action taken under sub-clause (zzzz) clause (105) of section 65 of the Finan....
Chapter: VI
Cental Sales Tax
Clause 77 : Amendment of section 6A

        Clause 77 of the Bill seeks to amend the Central Sales Tax Act, with a view to amend sub-section (2) of section 6A of the Ce....
Clause 78 : Insertion of new ChapterVA

        Clause 78 of the Bill seeks to insert a new Chapter VA in the Central Sales Tax Act, relating to appeals to the highest appe....
Clause 79 : Amendment of section 20

        Clause 79 of the Bill seeks to amend section 20 of the Central Sales Tax Act, by substituting sub-section (1) thereof to pro....
Clause 80 : Amendment of section 22

        Clause 80 of the Bill seeks to amend section 22 of the Central Sales Tax Act, so as to - (a) substitute the word pre-deposit....
Clause 81 : Amendment of section 25

        Clause 81 of the Bill seeks to amend section 25 of the Central Sales Tax Act, so as to omit the proviso to sub-section (2) o....
Chapter: VII
Clean Enegry Cess
Clause 82 : Clean Energy Cess

        Clause 82 of the Bill seeks to levy a cess to be called the Clean Energy Cess as duty of excise for the purposes of the Unio....
Clause 83 : Power of Central Government to make rules

        Clause 83 of the Bill seeks to empower the Central Government to make rules to provide for manner of assessment, collection ....
Chapter: VIII
Miscellaneous
Clause 84 : Amendment of section 3 of Act 16 of 1955

        Clause 84 of the Bill seeks to amend section 3 of the Medicinal and Toilet Preparations (Excise Duties) Act, 1955, so as to ....
Clause 85 : Amendment of Act 14 of 2001

        Clause 85 of the Bill seeks to amend the Seventh Schedule to the Finance Act, 2001 in the manner specified in the Eleventh S....
Clause 86 : Amendment of Act 18 of 2005

        Clause 86 of the Bill seeks to amend the Seventh Schedule to the Finance Act, 2005 in the manner specified in the Twelfth Sc....
Schedules
Sch-01 : THE FIRST SCHEDULE - (See section 2)
Sch-02 : THE SECOND SCHEDULE [See section 60(1)]
Sch-03 : THE THIRD SCHEDULE - (See section 62)
Sch-04 : THE FOURTH SCHEDULE - [See section 68(1)]
Sch-05 : THE FIFTH SCHEDULE - [See section 69(1)]
Sch-06 : THE SIXTH SCHEDULE - [See section 70(1)]
Sch-07 : THE SEVENTH SCHEDULE - [See section 71(1)]
Sch-08 : THE EIGHTH SCHEDULE - [See section 72(1)]
Sch-09 : THE NINTH SCHEDULE - (See section 74)
Sch-10 : THE TENTH SCHEDULE - [See section 82(3) and (5)]
Sch-11 : THE ELEVENTH SCHEDULE - (See section 85)
Sch-12 : THE TWELFTH SCHEDULE - (See section 86)
Statements - Notes - Memorandum
Memo : Memorandum Part-III (Service Tax)
Memo : Memorandum Part-I (Income-tax)
Memo : Memorandum Part-II (Cen.excise & Cus.)
Memo : MEMORANDUM REGARDING DELEGATED LEGISLATION
Notes : Notes on clauses - Income-tax
Notes : Notes on clauses - Wealth-tax
Notes : Notes on clauses - Customs
Notes : Notes on clauses - Customs Tariff
Notes : Notes on clauses - Excise
Notes : Notes on clauses - Excise Tariff
Notes : Notes on clauses - Service Tax
Notes : Notes on clauses - Central Sales Tax
Notes : Notes on clauses - Clean Energy Cess
Notes : Notes on clauses - Miscellaneous
Statements : STATEMENT OF OBJECTS AND REASONS
 
 
 

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