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Finance Act / Amendment Acts
Home Acts & Rules Finance Act / Amendment Acts Finance Acts FINANCE ACT, 2018 Chapters List This

FINANCE ACT, 2018

Chapter: I
PRELIMINARY
Section 1 : Short title and commencement
Chapter: II
RATES OF INCOME-TAX
Section 2 : Income-tax.
Chapter: III
DIRECT TAXES - Income-tax
Section 3 : Amendment of section 2.
Section 4 : Amendment of section 9.
Section 5 : Amendment of section 10
Section 6 : Amendment of section 11
Section 7 : Amendment of section 16.
Section 8 : Amendment of section 17
Section 9 : Amendment of section 28.
Section 10 : Amendment of section 36
Section 11 : Amendment of section 40A.
Section 12 : Amendment of section 43.
Section 13 : Insertion of new section 43AA-Taxation of foreign exchange fluctuation
Section 14 : Amendment of section 43CA
Section 15 : Insertion of new section 43CB-Computation of income from construction and service contracts.
Section 16 : Amendment of section 44AE
Section 17 : Amendment of section 47
Section 18 : Amendment of section 48
Section 19 : Amendment of section 49
Section 20 : Amendment of section 50C
Section 21 : Amendment of section 54EC
Section 22 : Amendment of section 55
Section 23 : Amendment of section 56
Section 24 : Amendment of section 79
Section 25 : Substitution of new section for section 80AC- Deduction not to be allowed unless return furnished
Section 26 : Amendment of section 80D
Section 27 : Amendment of section 80DDB.
Section 28 : Amendment of section 80-IAC.
Section 29 : Amendment of section 80JJAA
Section 30 : Insertion of new section 80PA-Deduction in respect of certain income of Producer Companies.
Section 31 : Amendment of section 80TTA.
Section 32 : Insertion of new section 80TTB- Deduction in respect of interest on deposits in case of senior citizens.
Section 33 : Insertion of new section 112A.- Tax on long-term capital gains in certain cases
Section 34 : Amendment of section 115AD
Section 35 : Amendment of section 115BA
Section 36 : Amendment of section 115BBE
Section 37 : Amendment of section 115JB.
Section 38 : Amendment of section 115JC
Section 39 : Amendment of section 115JF
Section 40 : Amendment of section 115-O
Section 41 : Omission of Explanation occurring after section 115Q
Section 42 : Amendment of section 115R
Section 43 : Amendment of section 115T
Section 44 : Amendment of section 139A
Section 45 : Amendment of section 140
Section 46 : Amendment of section 143
Section 47 : Substitution of new sections 145A and 145B for section 145A-Method of accounting in certain cases-Taxability of certain income
Section 48 : Amendment of section 193
Section 49 : Amendment of section 194A.
Section 50 : Amendment of section 245-O
Section 51 : Amendment of section 245Q
Section 52 : Amendment of section 253.
Section 53 : Amendment of section 271FA
Section 54 : Amendment of section 276CC
Section 55 : Amendment of section 286
Chapter: IV
INDIRECT TAXES - Customs
Section 56 : Substitution of references to certain expressions by certain other expressions.
Section 57 : Amendment of section 1.
Section 58 : Amendment of section 2.
Section 59 : Amendment of section 11
Section 60 : Amendment of section 17
Section 61 : Amendment of section 18
Section 62 : Insertion of new sections 25A and 25B-Inward processing of goods-Outward processing of goods
Section 63 : Amendment of section 28
Section 64 : Amendment of section 28E.
Section 65 : Insertion of new section 28EA.-Customs Authority for Advance Rulings
Section 66 : Amendment of section 28F
Section 67 : Amendment of section 28H
Section 68 : Amendment of section 28-I.
Section 69 : Amendment of section 28K
Section 70 : Insertion of new section 28KA.-Appeal.
Section 71 : Amendment of section 28L
Section 72 : Substitution of new section for section 28M- Procedure for Authority and Appellate Authority.
Section 73 : Amendment of section 30
Section 74 : Amendment of section 41
Section 75 : Amendment of section 45
Section 76 : Amendment of section 46
Section 77 : Amendment of section 47
Section 78 : Amendment of section 50
Section 79 : Amendment of section 51
Section 80 : Insertion of new Chapter VIIA- Payment of duty, interest, penalty, etc
Section 81 : Amendment of section 54
Section 82 : Amendment of section 60
Section 83 : Amendment of section 68
Section 84 : Amendment of section 69
Section 85 : Amendment of section 74
Section 86 : Amendment of section 75
Section 87 : Amendment of Chapter heading.
Section 88 : Amendment of section 83
Section 89 : Amendment of section 84
Section 90 : Insertion of new Chapter XIIA- Audit
Section 91 : Insertion of new section 109A.- Power to undertake controlled delivery
Section 92 : Amendment of section 110
Section 93 : Amendment of section 122.
Section 94 : Amendment of section 124
Section 95 : Amendment of section 125
Section 96 : Amendment of section 128A
Section 97 : Insertion of new section 143AA-Power to simplify or provide different procedure, etc., to facilitate trade
Section 98 : Insertion of new section 151B-Reciprocal arrangement for exchange of information facilitating trade.
Section 99 : Substitution of new section for section 153.
Section 100 : Amendment of section 157.
Section 101 : Amendment of notification issued under sub-section (1) of section 25 of Customs Act and subsection (12) of section 3 of Customs Tariff Act, retrospectively
INDIRECT TAXES - Customs Tariff
Section 102 : Amendment of Customs Tariff Act, 1975
Section 103 : Amendment of First Schedule
Section 104 : Amendment of Second Schedule
SERVICE TAX
Section 105 : Special provision for exemption from service tax in certain cases relating to life insurance services provided by Naval Group Insurance Fund to personnel of Coast Guard, retrospectively.
Section 106 : Special provision for exemption from service tax in certain cases relating to services provided or agreed to be provided by Goods and Services Tax Network, retrospectively.
Section 107 : Special provision for retrospective exemption from service tax on Government’s share of profit petroleum.
Chapter: V
REPEAL AND SAVINGS OF CERTAIN ENACTMENTS
Section 108 : Repeal and savings of certain enactments
Section 109 : Collection and payment of arrears of duties.
Chapter: VI
SOCIAL WELFARE SURCHARGE
Section 110 : Social Welfare Surcharge on imported goods.
Chapter: VII
ROAD AND INFRASTRUCTURE CESS
Section 111 : Road and Infrastructure Cess on imported goods
Section 112 : Road and Infrastructure Cess on excisable goods.
Chapter: VIII
MISCELLANEOUS
Part: I
AMENDMENTS TO THE GOVERNMENT SAVINGS BANKS ACT, 1873
Section 113 : Commencement of this Part
Section 114 : Substitution of long title to Act 5 of 1873
Section 115 : Amendment of short title
Section 116 : Substitution of words ‘‘Authorised Officer’’ for the word ‘‘Secretary’’ throughout Act.
Section 117 : Omission of section 2
Section 118 : Substitution of new sections 3, 3A and 3B for section 3-Definitions- Framing of Savings Schemes- Deposit by minor
Section 119 : Amendment of section 4
Section 120 : Amendment of section 4A
Section 121 : Amendment of section 5.
Section 122 : Amendment of section 6
Section 123 : Amendment of section 7
Section 124 : Insertion of new section 7A-Power to call for information.
Section 125 : Amendment of section 8.
Section 126 : Amendment of section 10
Section 127 : Amendment of section 12.
Section 128 : Insertion of new section 12A- Operation of account by differently abled persons
Section 129 : Omission of heading
Section 130 : Omission of section 13
Section 131 : Amendment of section 14
Section 132 : Insertion of new section 14A- Protection against attachment
Section 133 : Amendment of section 15
Section 134 : Insertion of new section and Schedule-Repeal and savings.
Part: II
AMENDMENT TO THE RESERVE BANK OF INDIA ACT, 1934
Section 135 : Amendment of section 17 of Act 2 of 1934.
Part: III
AMENDMENTS TO THE PRESIDENT’S EMOLUMENTS AND PENSION ACT, 1951
Section 136 : Commencement of this Part
Section 137 : Amendment of section 1A
Section 138 : Amendment of section 2.
Section 139 : Amendment of section 3A
Part: IV
AMENDMENT TO THE SALARIES AND ALLOWANCES OF OFFICERS OF PARLIAMENT ACT, 1953
Section 140 : Amendment of section 3 of Act 20 of 1953.
Part: V
AMENDMENTS TO THE SALARY, ALLOWANCES AND PENSION OF MEMBERS OF PARLIAMENT ACT, 1954
Section 141 : Commencement of this Part.
Section 142 : Amendment of section 3.
Section 143 : Amendment of section 4.
Section 144 : Amendment of section 8A.
Section 145 : Amendment of section 8AC.
Part: VI
AMENDMENTS TO THE SECURITIES CONTRACTS (REGULATION) ACT, 1956
Section 146 : Commencement of this Part
Section 147 : Amendment of section 12A.
Section 148 : Amendment of section 23
Section 149 : Amendment of section 23A
Section 150 : Amendment of section 23E
Section 151 : Amendment of section 23G
Section 152 : Insertion of new section 23GA- Penalty for failure to conduct business in accordance with rules, etc.
Section 153 : Amendment of section 23-I.
Section 154 : Amendment of section 23J
Section 155 : Amendment of section 23JA
Section 156 : Amendment of section 23JB
Section 157 : Insertion of new section 23JC - Continuance of proceedings
Section 158 : Amendment of section 23M.
Section 159 : Amendment of section 24
Part: VII
AMENDMENT TO THE CENTRAL BOARDS OF REVENUE ACT, 1963
Section 160 : Amendment of Act 54 of 1963.
Part: VIII
AMENDMENT TO THE GOVERNORS (EMOLUMENTS, ALLOWANCES AND PRIVILEGES) ACT, 1982
Section 161 : Amendment of section 3 of Act 43 of 1982.
Part: IX
AMENDMENTS TO THE NATIONAL HOUSING BANK ACT, 1987
Section 162 : Commencement of this Part
Section 163 : Amendment of section 3.
Section 164 : Amendment of section 4.
Section 165 : Amendment of section 5.
Section 166 : Amendment of section 6
Section 167 : Amendment of section 7
Section 168 : Amendment of section 16
Section 169 : Amendment of section 29A.
Section 170 : Amendment of section 33
Section 171 : Amendment of section 33B
Section 172 : Amendment of section 37
Section 173 : Amendment of section 39
Section 174 : Amendment of section 40.
Section 175 : Amendment of section 43
Section 176 : Amendment of section 45A
Section 177 : Amendment of section 55
Part: X
AMENDMENTS TO THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992
Section 178 : Commencement of this Part
Section 179 : Amendment of section 11
Section 180 : Amendment of section 11B
Section 181 : Amendment of section 15A.
Section 182 : Insertion of new sections 15EA and 15EB - Penalty for default in case of alternative investment funds, infrastructure investment trusts and real estate investment trusts - Penalty for default in case of investment adviser and research analyst.
Section 183 : Amendment of section 15F
Section 184 : Amendment of section 15-I.
Section 185 : Amendment of section 15J
Section 186 : Amendment of section 15JB.
Section 187 : Amendment of section 24
Section 188 : Amendment of section 27
Section 189 : Amendment of section 28A
Section 190 : Insertion of new section 28B - Continuance of proceedings
Part: XI
AMENDMENTS TO THE DEPOSITORIES ACT, 1996
Section 191 : Commencement of this Part
Section 192 : Amendment of section 19
Section 193 : Amendment of section 19A.
Section 194 : Insertion of new section 19FA.- Penalty for failure to conduct business in a fair manner.
Section 195 : Amendment of section 19H
Section 196 : Amendment of section 19-I.
Section 197 : Amendment of section 19-IA.
Section 198 : Amendment of section 19-IB
Section 199 : Insertion of new section 19-IC-Continuance of proceedings
Section 200 : Amendment of Chapter V
Section 201 : Amendment of section 20
Section 202 : Amendment of section 21
Section 203 : Omission of heading
Part: XII
AMENDMENTS TO THE VICE-PRESIDENT’S PENSION ACT, 1997
Section 204 : Amendment of section 2 of Act 30 of 1997.
Part: XIII
AMENDMENTS TO THE CENTRAL ROAD FUND ACT, 2000
Section 205 : Commencement of this Part.
Section 206 : Amendment of Act 54 of 2000.
Part: XIV
AMENDMENTS TO THE PREVENTION OF MONEY-LAUNDERING ACT , 2002
Section 207 : Commencement of this Part.
Section 208 : Amendments to Act 15 of 2003.
Part: XV
AMENDMENTS TO THE FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT ACT , 2003
Section 209 : Commencement of this Part
Section 210 : Amendment of long title
Section 211 : Amendment of section 2
Section 212 : Amendment of section 3.
Section 213 : Amendment of section 4- Fiscal management principles
Section 214 : Amendment of section 5
Section 215 : Amendment of section 7
Section 216 : Amendment of section 8.
Part: XVI
AMENDMENTS TO THE FINANCE (NO. 2) ACT, 2004
Section 217 : Amendment of Act 23 of 2004.
Part: XVII
AMENDMENTS TO THE FINANCE ACT, 2013
Section 218 : Amendment of Act 17 of 2013- Charge of commodities transaction tax - Value of taxable commodities transaction
Part: XVIII
AMENDMENTS TO THE BLACK MONEY (UNDISCLOSED FOREIGN INCOME AND ASSETS) AND IMPOSITION OF TAX ACT, 2015
Section 219 : Amendment of Act 22 of 2015.- Amendment of section 46- Amendment of section 55
Part: XIX
AMENDMENT TO THE FINANCE ACT, 2016
Section 220 : Amendment of Act 28 of 2016.
Part: XX
AMENDMENT TO THE CENTRAL GOODS AND SERVICES TAX ACT, 2017
Section 221 : Amendment of section 2 of Act 12 of 2017
Schedules
SCHEDULE 01 : THE FIRST SCHEDULE (See section 2)
SCHEDULE 02 : THE SECOND SCHEDULE [See section 103 (a)]
SCHEDULE 03 : THE THIRD SCHEDULE [See section 103 (b)]
SCHEDULE 04 : THE FOURTH SCHEDULE [See section 104 (b)]
SCHEDULE 05 : THE FIFTH SCHEDULE (See sections 108 and 109)
SCHEDULE 06 : THE SIXTH SCHEDULE (See sections 111 and 112)
 
 
 
 

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