Tax Management India. Com
                        Law and Practice: A Digital eBook ...
TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Articles News
Highlights
D. Forum
What's New
Sub-Menu

Share:      

        Home        
 
Statutory Provisions
Home Acts & Rules Bill Bills FINANCE BILL, 2021 Chapters List Part II AMENDMENT TO THE CONTINGENCY FUND OF INDIA ACT, 1950 This
← Previous Next →

Clause 118 - Amendment of Act 49 of 1950. - FINANCE BILL, 2021

FINANCE BILL, 2021
Part II
AMENDMENT TO THE CONTINGENCY FUND OF INDIA ACT, 1950
  • Contents

PART II

AMENDMENT TO THE CONTINGENCY FUND OF INDIA ACT, 1950

Amendment of Act 49 of 1950.

118. In section 2 of the Contingency Fund of India Act, 1950, after sub-section (2), the following sub-section shall be inserted, namely:––

“(3) On and from the date on which the Finance Bill, 2021 receives the assent of the President, the sum which shall be paid from and out of the Consolidated Fund of India into the Contingency Fund of India under sub-section (2) shall stand enhanced to thirty thousand crores of rupees.”.

 



 

Notes on Clauses:

Clause 118 of the Bill seeks to insert a new sub-section (3) in section 2 of the Contingency Fund of India Act, 1950 relating to enhancement of the Contingency Fund of India so as to enhance the corpus of the Fund from five hundred crores of rupees, as at present, to thirty thousand crores of rupees by transfer of an additional amount of twenty nine thousand five hundred crores of rupees from the Consolidated Fund of India to the Contingency Fund of India.

 
 
 
 
← Previous Next →

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map || ||