Finance Act, 2008

Chapter: I
PRELIMINARY
Section 1	:	Short title and commencement.
Chapter: II
RATES OF INCOME-TAX
Section 2	:	RATES OF INCOME-TAX
Chapter: III
DIRECT TAXES
Section 3	:	Amendment of section 2.
Section 4	:	Amendment of section 10.
Section 5	:	Amendment of section 10A
Section 6	:	Amendment of section 10 B.
Section 7	:	Amendment of section 35
Section 8	:	Amendment of section 35D.
Section 9	:	Amendment of section 36.
Section 10	:	Amendment of section 40.
Section 11	:	Amendment of section 40A.
Section 12	:	Amendment of section 43.
Section 13	:	Amendment of section 44AB.
Section 14	:	Amendment of section 47.
Section 15	:	Amendment of section 49.
Section 16	:	Amendment of section 80C.
Section 17	:	Substitution of new section for section 80D.
Section 18	:	Amendment of section 80-IB.
Section 19	:	Amendment of section 80-ID.
Section 20	:	Amendment of section 88E.
Section 21	:	Amendment of section 111A.
Section 22	:	Amendment of section 115AD.
Section 23	:	Amendment of section 115JB.
Section 24	:	Amendment of section 115-O.
Section 25	:	Amendment of section 115WB.
Section 26	:	Amendment of section 115WC.
Section 27	:	Amendment of section 115 WD.
Section 28	:	Amendment of section 115WE.
Section 29	:	Insertion of new section 115 WKB.
Section 30	:	Amendment of section 139.
Section 31	:	Amendment of section 142.
Section 32	:	Amendment of section 143.
Section 33	:	Amendment of section 147.
Section 34	:	Amendment of section 151
Section 35	:	Amendment of section 153
Section 36	:	Amendment of section 153 A .
Section 37	:	Amendment of section 153B.
Section 38	:	Amendment of section 153C.
Section 39	:	Amendment of section 153D.
Section 40	:	Amendment of section 156.
Section 41	:	Amendment of section 191.
Section 42	:	Amendment of section 193.
Section 43	:	Amendment of section 194C.
Section 44	:	Amendment of section 195.
Section 45	:	Substitution of new section for section 199.
Section 46	:	Amendment of section 201.
Section 47	:	Amendment of section 203.
Section 48	:	Amendment of section 206C.
Section 49	:	Amendment of section 251.
Section 50	:	Amendment of section 254.
Section 51	:	Insertion of new section 268 A.
Section 52	:	Amendment of section 271.
Section 53	:	Insertion of new section 273AA.
Section 54	:	Insertion of new section 278AB.
Section 55	:	Insertion of new section 282A.
Section 56	:	Insertion of new section 292BB.
Section 57	:	Amendment of section 292C.
Section 58	:	Amendment of section 295.
Section 59	:	Amendment of Fourth Schedule.
Section 60	:	Amendment of section 17.
Section 61	:	Amendment of section 17 A.
Section 62	:	Amendment of section 18.
Section 63	:	Insertion of new section 18BA.
Section 64	:	Amendment of section 23A.
Section 65	:	Insertion of new section 35GA.
Section 66	:	Insertion of new section 42.
Section 67	:	Amendment of section 42D.
Chapter: IV
INDIRECT TAXES
Section 68	:	Amendment of section 28 B.
Section 69	:	Amendment of section 108.
Section 70	:	Amendment of section 117.
Section 71	:	Amendment of section 129 A.
Section 72	:	Amendment of section 129 D.
Section 73	:	Insertion of new section 129 EE.
Section 74	:	Amendment of section 141.
Section 75	:	Amendment of section 158.
Section 76	:	Amendment of notification issued under sub-section (1) of section 25 of the Customs Act, 1962.
Section 77	:	Amendment of Act 51 of 1975.
Section 78	:	Amendment of section 2.
Section 79	:	Insertion of new section 3A.
Section 80	:	Amendment of section 11 B.
Section 81	:	Amendment of section 11 D.
Section 82	:	Amendment of section 11 DD.
Section 83	:	Amendment of section 35 B.
Section 84	:	Amendment of section 35 E.
Section 85	:	Insertion of new section 35FF.
Section 86	:	Amendment of Central Excise Rules, 1944.
Section 87	:	Amendment of Central Excise (No. 2) Rules, 2001.
Section 88	:	Amendment of Central Excise Rules, 2002.
Section 89	:	Amendment of Act 5 of 1986.
Chapter: V
SERVICE TAX
Section 90(A)	:	Amendment of section 65 of Finance Act, 1994
Section 90(B)	:	Amendment of Section 66 of Finance Act, 1994
Section 90(C)	:	Amendment of Section 67 of Finance Act, 1994.
Section 90(D)	:	Insertion of Section 71 and 72 - Scheme for submission of Returns through Service Tax Preparers and Best Judgment Assessment - Finance Act, 1994
Section 90(E)	:	Substitution of Section 77 of Finance Act, 1994 - Penalty for contravention of rules and provisions of Act for which no penalty is specified elsewhere.
Section 90(F)	:	Amendment of Section 78 of Finance Act, 1994
Section 90(G)	:	Amendment of Section 83 of Finance Act, 1994
Section 90(H)	:	Amendment of Section 86 of Finance Act, 1994
Section 90(I)	:	Amendment of Section 94 of Finance Act, 1994
Section 90(J)	:	Amendment of Section 95 of Finance Act, 1994
Chapter: VI
SERVICE TAX DISPUTE RESOLUTION SCHEME, 2008
Section 91	:	Short title and commencement.
Section 92	:	Definitions.
Section 93	:	Applicability of Scheme.
Section 94	:	Settlement of tax payment.
Section 95	:	Particulars to be furnished in declaration.
Section 96	:	Time and manner of payment of tax arrear.
Section 97	:	Appellate authority not to proceed in certain cases.
Section 98	:	No refund of amount paid under the Scheme.
Section 99	:	Removal of doubts.
Section 100	:	Power to remove difficulties.
Section 101	:	Power to make rules.
Chapter: VII
COMMODITIES TRANSACTION TAX
Section 102	:	Extent, commencement and application.
Section 103	:	Definitions.
Section 104	:	Charge of commodities transaction tax.
Section 105	:	Value of taxable commodities
Section 106	:	Collection and recovery of commodities transaction tax.
Section 107	:	Furnishing of return.
Section 108	:	Assessment.
Section 109	:	Rectification of mistake.
Section 110	:	Interest on delayed payment of commodities transaction tax.
Section 111	:	Penalty for failure to collect or pay commodities transaction tax.
Section 112	:	Penalty for failure to furnish return.
Section 113	:	Penalty for failure to comply with notice.
Section 114	:	Penalty not to be imposed in certain cases.
Section 115	:	Application of certain provisions of Income-tax Act.
Section 116	:	Appeal to Commissioner of Income-tax (Appeals).
Section 117	:	Appeal to Appellate Tribunal.
Section 118	:	Punishment for false statement.
Section 119	:	Institution of prosecution.
Section 120	:	Power to make rules.
Section 121	:	Power to remove difficulties.
Section 121A.	:	Provisions of Chapter VII not to apply to taxable commodities transaction.
Chapter: VIII
MISCELLANEOUS
Section 122	:	Amendment of Seventh Schedule to Act 14 of 2001.
Section 123	:	Amendment of section 13 of Act 58 of 2002.
Section 124	:	Amendment of Finance (No. 2) Act, 2004 (Act 23 of 2004)
Section 125	:	Amendment of Finance Act, 2005 (Act 18 of 2005)
SCH 01	:	THE FIRST SCHEDULE
SCH 02	:	THE SECOND SCHEDULE
SCH 03	:	THE THIRD SCHEDULE
SCH 04	:	THE FOURTH SCHEDULE
SCH 05	:	THE FIFTH SCHEDULE
SCH 06	:	THE SIXTH SCHEDULE
SCH 07	:	THE SEVENTH SCHEDULE
SCH 08	:	THE EIGHTH SCHEDULE
SCH 09	:	THE NINTH SCHEDULE
Memorandum to Finance Bill, 2008
Memo	:	Memorandums