Finance (No. 2) Act, 2024

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 10.
Section 5	:	Amendment of section 11.
Section 6	:	Amendment of section 12A.
Section 7	:	Amendment of section 12AB.
Section 8	:	Insertion of new section 12AC.
Section 9	:	Amendment of section 13.
Section 10	:	Amendment of section 16.
Section 11	:	Amendment of section 28.
Section 12	:	Amendment of section 36.
Section 13	:	Amendment of section 37.
Section 14	:	Amendment of section 40.
Section 15	:	Amendment of section 43D.
Section 16	:	Amendment of section 44B.
Section 17	:	Insertion of new section 44BBC.
Section 18	:	Amendment of section 46A.
Section 19	:	Amendment of section 47.
Section 20	:	Amendment of section 48.
Section 21	:	Amendment of section 50AA.
Section 22	:	Amendment of section 55.
Section 23	:	Amendment of section 56.
Section 24	:	Amendment of section 57.
Section 25	:	Amendment of section 80CCD.
Section 26	:	Amendment of section 80G.
Section 27	:	Amendment of section 92CA.
Section 28	:	Amendment of section 94B.
Section 29	:	Amendment of section 111A.
Section 30	:	Amendment of section 112.
Section 31	:	Amendment of section 112A.
Section 32	:	Amendment of section 113.
Section 33	:	Amendment of section 115AB.
Section 34	:	Amendment of section 115AC.
Section 35	:	Amendment of section 115ACA.
Section 36	:	Amendment of section 115AD.
Section 37	:	Amendment of section 115BAC.
Section 38	:	Amendment of section 115E.
Section 39	:	Amendment of section 115QA.
Section 40	:	Amendment of section 132B.
Section 41	:	Amendment of section 139.
Section 42	:	Amendment of section 139AA.
Section 43	:	Amendment of section 144C.
Section 44	:	Substitution of new sections for sections 148 and 148A.
Section 45	:	Substitution of new section for section 149.
Section 46	:	Substitution of new section for section 151.
Section 47	:	Amendment of section 152.
Section 48	:	Amendment of section 153.
Section 49	:	Substitution of new Chapter for Chapter XIV-B.
Section 50	:	Amendment of section 192.
Section 51	:	Amendment of section 193.
Section 52	:	Amendment of section 194.
Section 53	:	Amendment of section 194C.
Section 54	:	Amendment of section 194DA.
Section 55	:	Omission of section 194F.
Section 56	:	Amendment of section 194G.
Section 57	:	Amendment of section 194H.
Section 58	:	Amendment of section 194-IA.
Section 59	:	Amendment of section 194-IB.
Section 60	:	Amendment of section 194M.
Section 61	:	Amendment of section 194-O.
Section 62	:	Insertion of new section 194T.
Section 63	:	Amendment of section 196B.
Section 64	:	Amendment of section 196C.
Section 65	:	Amendment of section 197.
Section 66	:	Amendment of section 198.
Section 67	:	Amendment of section 200.
Section 68	:	Amendment of section 200A.
Section 69	:	Amendment of section 201.
Section 70	:	Amendment of section 206C.
Section 71	:	Amendment of section 230.
Section 72	:	Amendment of section 244A.
Section 73	:	Amendment of section 245.
Section 74	:	Amendment of section 245Q.
Section 75	:	Amendment of section 245R.
Section 76	:	Amendment of section 246A.
Section 77	:	Amendment of section 251.
Section 78	:	Amendment of section 253.
Section 79	:	Amendment of section 271FAA
Section 80	:	Insertion of new section 271GC.
Section 81	:	Amendment of section 271H.
Section 82	:	Amendment of section 273B.
Section 83	:	Amendment of section 275.
Section 84	:	Amendment of section 276B.
Section 85	:	Amendment of section 276CCC.
Section 86	:	Amendment of section 285.
Section 87	:	Amendment of First Schedule.
Chapter: IV
THE DIRECT TAX VIVAD SE VISHWAS SCHEME, 2024
Section 88	:	Short title and commencement.
Section 89	:	Definitions.
Section 90	:	Amount payable by declarant.
Section 91	:	Filing of declaration and particulars to be furnished.
Section 92	:	Time and manner of payment.
Section 93	:	Immunity from initiation of proceedings in respect of offence and imposition of penalty in certain cases.
Section 94	:	No refund of amount paid.
Section 95	:	No benefit, concession or immunity to declarant.
Section 96	:	Scheme not to apply in certain cases.
Section 97	:	Power of Board to issue directions, etc.
Section 98	:	Power to remove difficulties.
Section 99	:	Power to make rules.
Chapter: V
INDIRECT TAXES
Customs
Section 100	:	Amendment of section 28DA.
Section 101	:	Amendment of section 65.
Section 102	:	Amendment of section 143AA.
Section 103	:	Amendment of section 157.
Section 104	:	Retrospective effect to notification issued under sub-section (1) of section 25 of Customs Act, read with sub-section (12) of section 3 of Customs Tariff Act.
Section 105	:	Retrospective amendment of notification issued under sub-section (1) of section 25 of Customs Act read with section 124 of Finance Act.
Customs Tariff
Section 106	:	Amendment of section 3.
Section 107	:	Omission of section 6.
Section 108	:	Amendment of section 8B.
Section 109	:	Amendment of section 9.
Section 110	:	Amendment of section 9A.
Section 111	:	Amendment of First Schedule.
Excise
Section 112	:	Amendment of notification issued under section 5A of Central Excise Act, retrospectively.
Section 113	:	Amendment of notification issued under section 5A of Central Excise Act, retrospectively.
Central Goods and Service Tax
Section 114	:	Amendment of section 9.
Section 115	:	Amendment of section 10.
Section 116	:	Insertion of new section 11A.
Section 117	:	Amendment of section 13.
Section 118	:	Amendment of section 16.
Section 119	:	Amendment of section 17.
Section 120	:	Amendment of section 21.
Section 121	:	Amendment of section 30.
Section 122	:	Amendment of section 31.
Section 123	:	Amendment of section 35.
Section 124	:	Amendment of section 39.
Section 125	:	Amendment of section 49.
Section 126	:	Amendment of section 50.
Section 127	:	Amendment of section 51.
Section 128	:	Amendment of section 54.
Section 129	:	Amendment of section 61.
Section 130	:	Amendment of section 62.
Section 131	:	Amendment of section 63.
Section 132	:	Amendment of section 64.
Section 133	:	Amendment of section 65.
Section 134	:	Amendment of section 66.
Section 135	:	Amendment of section 70.
Section 136	:	Amendment of section 73.
Section 137	:	Amendment of section 74.
Section 138	:	Insertion of new section 74A.
Section 139	:	Amendment of section 75.
Section 140	:	Amendment of section 104.
Section 141	:	Amendment of section 107.
Section 142	:	Amendment of section 109.
Section 143	:	Amendment of section 112.
Section 144	:	Amendment of section 122.
Section 145	:	Amendment of section 127.
Section 146	:	Insertion of new section 128A.
Section 147	:	Amendment of section 140.
Section 148	:	Amendment of section 171.
Section 149	:	Amendment of Schedule III.
Section 150	:	No refund of tax paid or input tax credit reversed.
Integrated Goods and Services Tax
Section 151	:	Amendment of section 5.
Section 152	:	Insertion of new section 6A.
Section 153	:	Amendment of section 16.
Section 154	:	Amendment of section 20.
Union Territory Goods and Services Tax
Section 155	:	Amendment of section 7.
Section 156	:	Insertion of new section 8A.
Goods and Services Tax (Compensation to States)
Section 157	:	Insertion of new section 8A.
Chapter: VI
MISCELLANEOUS
Part: I
AMENDMENT TO THE PROHIBITION OF BENAMI PROPERTY TRANSACTIONS ACT, 1988
Section 158	:	Amendment of Act 45 of 1988.
Part: II
AMENDMENT TO THE FINANCE ACT, 2001
Section 159	:	Amendment of Act 14 of 2001.
Part: III
AMENDMENT TO THE FINANCE ACT, 2002
Section 160	:	Amendment of Act 20 of 2002.
Part: IV
AMENDMENT TO THE FINANCE ACT, 2003
Section 161	:	Amendment of Act 32 of 2003.
Part: V
AMENDMENT TO THE FINANCE (NO. 2) ACT, 2004
Section 162	:	Amendment of Act 23 of 2004.
Part: VI
AMENDMENT TO THE FINANCE ACT, 2005
Section 163	:	Amendment of Act 18 of 2005.
Part: VII
AMENDMENT TO THE BLACK MONEY (UNDISCLOSED FOREIGN INCOME AND ASSETS) AND IMPOSITION OF TAX ACT, 2015
Section 164	:	Amendment of Act 22 of 2015.
Part: VIII
AMENDMENT TO THE FINANCE ACT, 2016
Section 165	:	Amendment of Act 28 of 2016.
Part: IX
AMENDMENTS TO THE FINANCE ACT, 2018
Section 166	:	Amendment of Act 13 of 2018.
Part: X
AMENDMENT TO THE FINANCE ACT, 2020
Section 167	:	Amendment of Act 12 of 2020.
Part: XI
AMENDMENTS TO THE FINANCE ACT, 2021
Section 168	:	Amendment of Act 13 of 2021.
SCHEDULES
SCH-01	:	FIRST SCHEDULE
SCH-02	:	SECOND SCHEDULE
SCH-03	:	THIRD SCHEDULE
SCH-04	:	FOURTH SCHEDULE
SCH-05	:	FIFTH SCHEDULE
SCH-06	:	SIXTH SCHEDULE