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TAX AMENDMENT AT A GLANCE IN SECTION-WISE [BUDGET : 2014-2015]

(As per Finance (No. 2) Bill, 2014 and Last Minute Amendment also incorporated)
(As passed by Lok Sabha)
 

SECTIONS

Amendment Relating to ….

Section-2

relating to Definitions

Section-10AA

relating to “Special Provision In Respect Of Newly Established Units In Special Economic Zones”.

Section-11

relating to “Income from Property held for Charitable Orreligious purposes.”

Section-12A

relating to Conditions for Applicability of Sections-11 and 12

Section-12AA

relating to Procedure for Registration

Section-24

relating to Deductions From Income From House Property

Section-32AC

relating to Investment in New Plant or Machinery

Section-35AD

relating to Deduction in respect of Expenditure on Specified Business

Section-37

relating to General Expenditure

Section-40

relating to Amounts Not Deductible

Section-43

relating to Definitions Of Certain Terms Relevant To Income From Profits And Gains Of Business Or Profession

 

Section-44AE

relating to Special Provision For Computing Profits And Gains Of Business Of Plying, Hiring Or Leasing Goods Carriages

Section-45

relating to Capital Gains

Section-47

relating to transactions not regarded as transfer.

Section-48

relating to Mode Of Computation

Section-49

Relating To Cost With Reference To Certain Modes Of Acquisition.

Section-51

relating to Advance Money Received

Section-54

relating to Profit On Sale Of Property Used For Residence.

Section-54EC

relating to Capital Gain Not To Be Charged On Investment In Certain Bonds

Section-54F

relating to Capital Gain On Transfer Of Certain Capital Assets Not To Be Charged In Case Of Investment In Residential House

Section-56

relating to Income From Other Sources

Section-73

relating to Losses In Speculation Business

Section-80C

relating to Deduction In Respect Of Life Insurance Premia, Deferred Annuity, Contributions To Provident Fund, Subscription To Certain Equity Shares Or Debentures, etc.

Section-8OCCD

relating to Deduction In Respect Of Contribution To Pension Scheme Of Central Government

Section-8OCCE

relating to Limit On Deductions Under Sections BOC, 8OCCC and BOCCD

Section-80-lA

relating to Deductions In Respect Of Profits And Gains From Industrial Undertakings Or Enterprises Engaged In Infrastructure Development, etc

Section-92B

relating to Meaning Of International Transaction

Section-92CC

relating to Advance Pricing Agreement

Section-111A

relating to Tax On Short-Term Capital Gains In Certain Cases

Section-112

relating to Tax On Long-Term Capital Gains

Section-115A

relating to Tax On Dividends, Royalty And Technical Service Fees In The Case Of Foreign Companies

Section-115BBC

relating to Anonymous Donations To Be Taxed In Certain Cases

Section-115BBD

relating to Tax On Certain Dividends Received From Foreign Companies

Section-115JC

relating to The Provisions For Payment Of Tax By Certain Persons Other Than A Company

Section-115JEE

relating to Application Of The Chapter XII-8A To Certain Persons

Section 115-0

relating to Tax On Distributed Profits Of Domestic Companies

Section-115R

relating to Tax On Distributed Income To Unit Holders

Section-115TA

relating to Tax On Distributed Income To Investors

Chapter XII-FA

in “Special Provisions Relating to Business Trusts”.

Section-116

relating to Substitution of New Income-Tax Authorities

Section-133A

relating to Power Of Survey

Section-133C

relating to power to Call For Information By Prescribed Income-Tax Authority

Section-139

relating to Return Of Income

Section-140

relating to Return By Whom To Be Signed

Section-142K

relating to estimate by Valuation Officer In certain cases

Section-145

relating to Method Of Accounting

Section-153

relating to Time Limit For Completion Of Assessments And Reassessments

Section-153B

relating to Time Limit For Completion Of Assessment Under Section 153A

Section-153C

relating to Assessment Of Income Of Any Other Person

Section-194DA

relating to Payment In Respect Of Life Insurance Policy

Section-194LBA

relates to Certain Income From Business Trust.

Section-194LC

relating to Income By Way Of Interest From Indian Company.

Section-200

relating To Duty Of Person Deducting Tax

Section-200A

relating to Processing Of Statements Of Tax Deducted At Source

Section-201

relating to Consequences Of Failure To Deduct Or Pay

Section-206AA

relating to Requirement To Furnish Permanent Account Number

Section-220

relating to When Tax Payable And When Assesee Deemed In Default

Section-269SS

relating to Mode Of Taking Or Accepting Certain Loans And Deposits

Section-269T

relating to Mode Of Repayment Of Certain Loans And Deposits

Section-271FA

relating to Penalty For Failure To Furnish Annual Information Return

Section-271FAA

provide for Penalty For Furnishing Inaccurate Statement Of Financial Transaction Or Reportable Account

Section-271G

relating to Levy Of Penalty For Failure To Furnish Information  Or Document Under Section-92D Of The Act

Section-271H

relating to Penalty For Failure To Furnish Statements, etc.

Section-276D

relates to Failure To Produce Accounts And Documents.

Section-281B

relating to Provisional Attachment To Protect Revenue In Certain Cases.

Section-285BA

relating to Obligation To Furnish Annual Information Return With A New Section

Section-2(14)

relating to Capital Asset

Section-92C

relating to Computation Of Arm’s Length Price

Section-112

relating to Tax On Long Term Capital Gains.

Section-245A

relating to Settlement Of Cases-Definition

Section-245N

relating to Advance Ruling-Definitions

Section-245-0

relating to Authority for Advance Rulings

 
 
 
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