Finance Bill, 2015

Chapter: I
PRELIMINARY
Clause 1	:	Short title and commencement
Chapter: II
RATES OF INCOME-TAX
Clause 2	:	Income-tax Clause 2 , read with the First Schedule to the Bill, specifies the rates at which income-tax is to be levied on income charg....
Chapter: III
DIRECT TAXES - Income-tax
Clause 3	:	Amendment of section 2 Clause 3 of the Bill seeks to amend section 2 of the Income tax Act relating to definitions. It is proposed to substitute cl....
Clause 4	:	Amendment of section 6 Clause 4 of the Bill seeks to amend section 6 of the Income tax Act relating to residence in India. The existing provisions ....
Clause 5	:	Amendment of section 9 Clause 5 of the Bill seeks to amend section 9 of the Income tax Act relating to income deemed to accrue or arise in India. C....
Clause 6	:	Insertion of new section 9A - Certain activities not to constitute business connection in India. Clause 6 of the Bill seeks to insert a new section 9A in the Income-tax Act relating to certain activities not to constitute....
Clause 7	:	Amendment of section 10 Clause 7 of the Bill seeks to amend section 10 of the Income tax Act relating to incomes not included in total income. It is....
Clause 8	:	Amendment of section 11. Clause 8 of the Bill seeks to amend section 11 of the Income tax Act relating to income from property held for charitable or....
Clause 9	:	Amendment of section 13. Clause 9 of the Bill seeks to amend section 13 of the Income tax Act relating to section 11 not to apply in certain cases. I....
Clause 10	:	Amendment of section 32 Clause 10 of the Bill seeks to amend section 32 of the Income tax Act relating to depreciation. Under the existing provision....
Clause 11	:	Insertion of new section 32AD- Investment in new plant or machinery innotified backward areas in certain States Clause 11 of the Bill seeks to insert a new section 32AD in the Income-tax Act relating to investment in new plant or machin....
Clause 12	:	Amendment of section 35 Clause 12 of the Bill seeks to amend section 35 of the Income tax Act relating to expenditure on scientific research. The ex....
Clause 13	:	Amendment of section 47. Clause 13 of the Bill seeks to amend section 47 of the Income tax Act relating to transactions not regarded as transfer. The....
Clause 14	:	Amendment of section 49. Clause 14 of the Bill seeks to amend section 49 of the Income tax Act relating to cost with reference to certain modes of ac....
Clause 15	:	Amendment of section 80C. Clause 15 of the Bill seeks to amend section 80C of the Income-tax Act relating to deduction in respect of life insurance pr....
Clause 16	:	Amendment of section 80CCC. Clause 16 of the Bill seeks to amend section 80CCC of the Income-tax Act relating to deduction in respect of contribution to....
Clause 17	:	Amendment of section 80CCD. Clause 17 of the Bill seeks to amend section 80CCD of the Income-tax Act relating to deduction in respect of contribution to....
Clause 18	:	Amendment of section 80D. Clause 18 of the Bill seeks to amend section 80D of the Income tax Act relating to deduction in respect of health insurance ....
Clause 19	:	Amendment of section 80DD. Clause 19 of the Bill seeks to amend section 80DD of the Income-tax Act relating to deduction in respect of maintenance incl....
Clause 20	:	Amendment of section 80DDB. Clause 20 of the Bill seeks to amend section 80DDB of the Income-tax Act relating to deduction in respect of medical treatme....
Clause 21	:	Amendment of section 80G. Clause 21 of the Bill, seeks to amend section 80G of the Income-tax Act relating to deduction in respect of donations to cer....
Clause 22	:	Amendment of section 80JJAA. Clause 22 of the Bill seeks to amend section 80JJAA of the Income-tax Act relating to deduction in respect of employment of ....
Clause 23	:	Amendment of section 80U. Clause 23 of the Bill, seeks to amend section 80U of the Income-tax Act relating to deduction in case of a person with disab....
Clause 24	:	Amendment of section 92BA Clause 24 seeks to amend section 92BA of the Income-tax Act relating to meaning of specified domestic transaction. The exist....
Clause 25	:	Amendment of section 95. Clause 25 of the Bill seeks to amend section 95 of the Income tax relating to applicability of General Anti Avoidance Rule. ....
Clause 26	:	Amendment of section 111A. Clause 26 of the Bill seeks to amend section 111A of the Income-tax Act relating to tax on short-term capital gains in certa....
Clause 27	:	Amendment of section 115A. Clause 27 of the Bill seeks to amend section 115A of the Income-tax Act relating to tax on dividends, royalty and technical ....
Clause 28	:	Amendment of section 115ACA Clause 28 of the Bill seeks to amend section 115ACA of the Income-tax Act relating to tax on income from Global Depository R....
Clause 29	:	Amendment of section 115JB Clause 29 of the Bill seeks to amend section 115JB of the Income-tax Act relating to special provision for payment of tax by....
Clause 30	:	Amendment of section 115U. Clause 30 of the Bill seeks to amend section 115U of the Income-tax Act relating to tax on income in certain cases. Section ....
Clause 31	:	Amendment of section 115UA. Clause 31 of the Bill seeks to amend section 115UA of the Income-tax Act relating to tax on income of unit holder and busine....
Clause 32	:	Insertion of new Chapter XII-FB- Tax on income of investment fund and its unit holders. Clause 32 of the Bill seeks to insert a new Chapter XII-FB consisting of a new section 115UB in the Income-tax Act relating ....
Clause 33	:	Amendment of section 132B Clause 33 of the Bill seeks to amend section 132B of the Income-tax Act relating to application of seized or requisitioned a....
Clause 34	:	Amendment of section 139. Clause 34 of the Bill seeks to amend section 139 of the Income-tax Act relating to return of income. Section 139, inter alia....
Clause 35	:	Substitution of new section for section 151- Sanction for issue of notice. Clause 35 of the Bill seeks to amend section 151 of the Income tax Act relating to sanction for issue of notice. The existin....
Clause 36	:	Amendment of section 153C Clause 36 of the Bill seeks to amend section 153C of the Income-tax Act relating to assessment of income of any other person....
Clause 37	:	Amendment of section 154. Clause 37 of the Bill seeks to amend section 154 of the Income tax Act relating to rectification of mistake. It is proposed ....
Clause 38	:	Amendment of section 156 Clause 38 of the Bill seeks to amend section 156 of the Income tax Act relating to notice of demand. The existing provisions....
Clause 39	:	Insertion of new section 158AA- Procedure when in an appeal by revenue an identical question of law is pending before Supreme Court. Clause 39 of the Bill seeks to insert a new section 158AA in the Income-tax Act relating to procedure when in an appeal by r....
Clause 40	:	Amendment of section 192 Clause 40 of the Bill seeks to amend section 192 of the Income tax Act relating to salary. Under the existing provisions con....
Clause 41	:	Insertion of new section 192A- Payment of accumulated balance due to an employee. Clause 41 of the Bill seeks to insert a new section 192A in the Income-tax Act relating to payment of accumulated balance du....
Clause 42	:	Amendment of section 194A. Clause 42 of the Bill seeks to amend section 194A of the Income-tax Act relating to interest other than interest on securiti....
Clause 43	:	Amendment of section 194C Clause 43 of the Bill seeks to amend section 194C of the Income-tax Act relating to payments to contractors. Under the exist....
Clause 44	:	Amendment of section 194-I. Clause 44 of the Bill seeks to amend section 194-I of the Income-tax Act relating to rent. The aforesaid section provides fo....
Clause 45	:	Amendment of section 194LBA. Clause 45 of the Bill seeks to amend section 194LBA of the Income-tax Act relating to certain income from units of a busines....
Clause 46	:	Insertion of new section 194LBB- Income in respect of units of investment fund. Clause 46 of the Bill seeks to insert a new section 194LBB in the Income-tax Act relating to income in respect of units of i....
Clause 47	:	Amendment of section 194LD. Clause 47 of the Bill, seeks to amend section 194LD of the Income-tax Act relating to Income by way of interest on certain b....
Clause 48	:	Amendment of section 195. Clause 48 of the Bill seeks to amend section 195 of the Income tax Act relating to other sums. The existing provisions conta....
Clause 49	:	Amendment of section 197A. Clause 49 of the Bill seeks to amend section 197A of the Income-tax Act relating to no deduction to be made in certain cases....
Clause 50	:	Amendment of section 200. Clause 50 of the Bill seeks to amend section 200 of the Income tax Act relating to duty of the person deducting tax. The exi....
Clause 51	:	Amendment of section 200A. Clause 51 of the Bill seeks to amend section 200A of the Income-tax Act relating to processing of statements of tax deducted....
Clause 52	:	Amendment of section 203A. Clause 52 of the Bill seeks to amend section 203A of the Income-tax Act relating to tax deduction and collection account num....
Clause 53	:	Amendment of section 206C. Clause 53 of the Bill seeks to amend section 206C of the Income-tax Act relating to profit and gains from the business of tr....
Clause 54	:	Insertion of new section 206CB- Processing of statements of tax collected at source. Clause 54 of the Bill seeks to insert a new section 206CB of the Income-tax Act relating to processing of statements of tax ....
Clause 55	:	Amendment of section 220. Clause 55 of the Bill seeks to amend section 220 of the Income tax Act relating to when tax payable and when assessee deemed....
Clause 56	:	Amendment of section 234B. Clause 56 of the Bill seeks to amend section 234B of the Income-tax Act relating to interest for defaults in payment of adva....
Clause 57	:	Amendment of section 245A. Clause 57 of the Bill seeks to amend section 245A of the Income-tax Act relating to definitions in respect of settlement of ....
Clause 58	:	Amendment of section 245D. Clause 58 of the Bill seeks to amend section 245D of the Income-tax Act relating to procedure on receipt of an application u....
Clause 59	:	Amendment of section 245H Clause 59 of the Bill seeks to amend section 245H of the Income-tax Act relating to power of Settlement Commission to grant ....
Clause 60	:	Amendment of section 245HA Clause 60 of the Bill seeks to amend section 245HA of the Income-tax Act relating to abatement of proceeding before Settleme....
Clause 61	:	Amendment of section 245K. Clause 61 of the Bill seeks to amend section 245K of the Income-tax Act relating to bar on subsequent application for settle....
Clause 62	:	Amendment of section 246A. Clause 62 of the Bill seeks to amend section 246A of the Income-tax Act relating to appealable order before Commissioner (Ap....
Clause 63	:	Amendment of section 253. Clause 63 of the Bill seeks to amend section 253 of the Income tax Act relating to appeals to the Appellate Tribunal. The ex....
Clause 64	:	Amendment of section 255. Clause 64 of the Bill seeks to amend section 255 of the Income tax Act relating to the procedure of Appellate Tribunal. The ....
Clause 65	:	Amendment of section 263. Clause 65 of the Bill seeks to amend section 263 of the Income tax Act relating to revision of orders prejudicial to revenue....
Clause 66	:	Substitution of new section for section 269SS- Mode of taking or accepting certain loans, deposits and specified sum. Clause 66 of the Bill seeks to substitute section 269SS of the Income-tax Act relating to mode of taking or accepting certai....
Clause 67	:	Amendment of section 269T Clause 67 of the Bill seeks to amend section 269T of the Income-tax Act relating to mode of repayment of certain loans and d....
Clause 68	:	Amendment of section 271 Clause 68 of the Bill seeks to amend section 271 of the Income tax Act relating to failure to furnish returns, comply with n....
Clause 69	:	Amendment of section 271D. Clause 69 of the Bill seeks to amend section 271D of the Income-tax relating to penalty for failure to comply with the provi....
Clause 70	:	Amendment of section 271E. Clause 70 of the Bill seeks to amend section 271E of the Income-tax relating to penalty for failure to comply with the provi....
Clause 71	:	Insertion of new section 271FAB- Penalty for failure to furnish statement or information or document by an eligible investment fund. Clause 71 seeks to insert a new section 271FAB of the Income-tax Act relating to penalty for failure to furnish statement or....
Clause 72	:	Insertion of new section 271GA- Penalty for failure to furnish information or document under section 285A. Clause 72 of the Bill seeks to insert a new section 271GA relating to penalty for failure to furnish information or document....
Clause 73	:	Insertion of new section 271-I- Penalty for failure to furnish information or furnishing inaccurate information under section 195. Clause 73 of the Bill seeks to insert a new section 271-I in the Income-tax Act relating to penalty for failure to furnish i....
Clause 74	:	Amendment of section 272A. Clause 74 of the Bill seeks to amend section 272A of the Income-tax Act relating to penalty for failure to answer questions,....
Clause 75	:	Amendment of section 273B Clause 75 of the Bill seeks to amend section 273B of the Income-tax Act relating to penalty not to be imposed in certain cas....
Clause 76	:	Insertion of new section 285A- Furnishing of information or documents by an Indian concern in certain cases Clause 76 of the Bill seeks to insert a new section 285A relating to furnishing of information by an Indian concern in certa....
Clause 77	:	Amendment of section 288. Clause 77 of the Bill seeks to amend section 288 of the Income tax Act relating to appearance by authorised representative. ....
Clause 78	:	Amendment of section 295. Clause 78 of the Bill seeks to amend section 295 of the Income tax Act relating to power to make rules. The existing provisi....
Chapter: III
Wealth-tax
Clause 79	:	Amendment of Act 27 of 1957. Clause 79 of the Bill seeks to amend section 3 of the Wealth tax Act relating to charge of wealth-tax. The existing provisio....
Chapter: IV
INDIRECT TAXES - Customs
Clause 80	:	Amendment of section 28. Customs Clause 80 of the Bill seeks to amend section 28 of the Customs Act, so as to- (i) insert a proviso in sub-section (2....
Clause 81	:	Amendment of section 112. Clause 81 of the Bill seeks to amend section 112 of the Customs Act, so as to substitute sub-clause (ii) of clause (b) there....
Clause 82	:	Amendment of section 114. Clause 82 of the Bill seeks to amend section 114 of the Customs Act, so as to substitute clause (ii) thereof to specify a pe....
Clause 83	:	Amendment of section 127A. Clause 83 of the Bill seeks to amend section 127A of the Customs Act, so as to omit the words in any appeal or revision, as ....
Clause 84	:	Amendment of section 127B . Clause 84 of the Bill seeks to amend section 127B of the Customs Act, so as to omit sub-section (1A) thereof. ....
Clause 85	:	Amendment of section 127C Clause 85 of the Bill seeks to amend section 127C of the Customs Act, so as to omit sub-section (6) thereof. ....
Clause 86	:	Omission of section 127E . Clause 86 of the Bill seeks to omit section 127E of the Customs Act. ....
Clause 87	:	Amendment of section 127H Clause 87 of the Bill seeks to amend section 127H of the Customs Act, so as to omit the Explanation thereto. ....
Clause 88	:	Amendment of section 127L . Clause 88 of the Bill seeks to amend sub-section (1) of section 127L of the Customs Act, so as to omit certain words. ....
Chapter: IV
Customs Tariff
Clause 89	:	Amendment of First Schedule. Customs Tariff Clause 89 of the Bill seeks to amend Chapters 27, 72, 73 and 87 of the First Schedule to the Customs Tariff A....
Chapter: IV
Central Excise
Clause 90	:	Amendment of section 3A. Central Excise Clause 90 of the Bill seeks to amend section 3A of the Central Excise Act with a view to insert Explanation 3....
Clause 91	:	Amendment of section 11A Clause 91 of the Bill seeks to amend section 11A of the Central Excise Act, so as to- (i) omit sub-sections (5), (6) and (7)....
Clause 92	:	Substitution of new section for section 11AC- Penalty for short-levy or non-levy of duty in certain cases. Clause 92 of the Bill seeks to substitute a new section for section 11AC of the Central Excise Act so as to rationalise the ....
Clause 93	:	Amendment of section 31. Clause 93 of the Bill seeks to amend section 31 of the Central Excise Act, so as to omit the words in any appeal or revision....
Clause 94	:	Amendment of section 32. Clause 94 of the Bill seeks to amend section 32 of the Central Excise Act, so as to omit the proviso to sub-section (3) ther....
Clause 95	:	Amendment of section 32B. Clause 95 of the Bill seeks to amend section 32B of the Central Excise Act, so as to substitute the words the Member for the....
Clause 96	:	Amendment of section 32E. Clause 96 of the Bill seeks to amend section 32E of the Central Excise Act, so as to omit sub-section (1A) thereof. ....
Clause 97	:	Amendment of section 32F. Clause 97 of the Bill seeks to amend section 32F of the Central Excise Act so as to omit certain words therefrom. ....
Clause 98	:	Omission of section 32H. Clause 98 of the Bill seeks to omit section 32H of the Central Excise Act. ....
Clause 99	:	Amendment of section 32K. Clause 99 of the Bill seeks to omit the Explanation to subsection( 1), of section 32K of the Central Excise Act. ....
Clause 100	:	Amendment of section 32-O. Clause 100 of the Bill seeks to amend sub-section (1) of section 32-O of the Central Excise Act, so as to omit certain words....
Clause 101	:	Amendment of section 37. Clause 101 of the Bill seeks to amend sub-sections (4) and (5) of section 37 of the Central Excise Act so as to substitute t....
Clause 102	:	Amendment of notification issued under section 5A of the Central Excise Act Clause 102 of the Bill seeks to amend the notification of the Government of India in the Ministry of Finance issued under su....
Clause 103	:	Amendment of Third Schedule. Clause 103 of the Bill seeks to amend the Third Schedule to the Central Excise Act in the manner specified in the Fourth Sch....
Chapter: IV
Central Excise Tariff
Clause 104	:	Amendment of First Schedule Clause 104 of the Bill seeks to amend the First Schedule to the Central Excise Tariff Act in the manner specified in the Fif....
Chapter: V
SERVICE TAX
Clause 105	:	Amendment of section 65B. Clause 105 of the Bill seeks to amend section 65B of 1994 Act so as to insert certain clauses, modify or clarify the scope o....
Clause 106	:	Amendment of section 66B. Clause 106 of the Bill of seeks to amend section 66B of 1994 Act so as to increase the service tax rate from twelve to fourt....
Clause 107	:	Amendment of section 66D Clause 107 of the Bill seeks to amend section 66D of 1994 Act so as to modify the scope of the services specified in negativ....
Clause 108	:	Amendment of section 66F Clause 108 of the Bill seeks to insert an illustration in subsection (1) of section 66F of 1994 Act, so as to clarify the sc....
Clause 109	:	Amendment of section 67 Clause 109 of the Bill seeks to amend section 67 of 1994 Act so as to substitute clause (a) of the Explanation to amplify th....
Clause 110	:	Amendment of section 73. Clause 110 of the Bill seeks to amend section 73 of 1994 Act so as to-- (a) insert a new sub-section (1B) to provide that th....
Clause 111	:	Substitution of new section for section 76- Penalty for failure to pay service tax Clause 111 of the Bill seeks to substitute a new section for section 76 of 1994 Act relating to penalty for failure to pay s....
Clause 112	:	Substitution of new section for section 78- Penalty for failure to pay service tax for reasons of fraud, etc. Clause 112 of the Bill seeks to substitute a new section for section 78 of 1994 Act relating to penalty for failure to pay s....
Clause 113	:	Insertion of new section 78B- Transitory provisions . Clause 113 of the Bill seeks to insert a new section 78B so as to provide transitional provisions with respect to the amende....
Clause 114	:	Omission of section 80 Clause 114 of the Bill seeks to omit section 80 of 1994 Act. ....
Clause 115	:	Amendment of section 86. Clause 115 of the Bill seeks to amend section 86 of 1994 Act so as to insert a proviso therein to provide that the cases spe....
Clause 116	:	Amendment of section 94 Clause 116 of the Bill seeks to amend section 94 of 1994 Act relating to power to make rules so as to substitute clause (aa)....
Chapter: VI
SWACHH BHARAT CESS
Clause 117	:	SWACHH BHARAT CESS Swachh Bharat Cess Clause 117 of the Bill seeks to insert a new Chapter VI so as to levy a cess to be called the Swachh Bhar....
Chapter: VII
PUBLIC DEBT MANAGEMENT AGENCY
Clause 118	:	PUBLIC DEBT MANAGEMENT AGENCY Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 119	:	Definitions Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 120	:	Establishment and incorporation of Public Debt Management Agency Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 121	:	Objective of Agency Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 122	:	Board of Agency Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 123	:	Composition of Board Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 124	:	Debt, cash and contingent liability management Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 125	:	Issue of Government Securities Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 126	:	Payment on Government Securities Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 127	:	Register of holders of Government Securities Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 128	:	Nomination Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 129	:	Transfer of Government Securities Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 130	:	Fungibility and Transferability . Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 131	:	Certificate of Government Securities Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 132	:	Liability for Financial transactions. Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 133	:	Fees Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 134	:	Grants and loans Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 135	:	Fund. Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 136	:	Accounts, audit and reports Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 137	:	Power of Central Government to issue directions Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 138	:	Power of Central Government to make rules. Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 139	:	Members and employees of Agency to be public servants Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 140	:	Protection of action taken in good faith Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 141	:	Exemption from taxes. Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Clause 142	:	Obligation of Reserve Bank to provide information Clauses 118 to 142 of the Bill seeks to insert a new Chapter VII in the Finance Bill, 2015 which deals with the Public Debt ....
Chapter: VIII
SENIOR CITIZENS’ WELFARE FUND
Clause 143	:	Extent and commencement. Clause 143 of the Bill provides for the extent and commencement of the said Chapter. ....
Clause 144	:	Definitions. Clause 144 of the Bill defines certain terms and expressions. ....
Clause 145	:	Establishment of Fund Clause 145 of the Bill provides for the establishment of a Fund known as the Senior Citizens Welfare Fund . ....
Clause 146	:	Constitution of a Committee for administration of Fund. Clause 146 of the Bill provides for the constitution of a Committee for administration of the said Fund. ....
Clause 147	:	Payment of claims . Clause 147 of the Bill deals with the payment of claims in respect of the unclaimed amount. ....
Clause 148	:	Publication of information. Clause 148 of the Bill relates to publication of information with respect to the unclaimed amount by the Institutions. ....
Clause 149	:	Escheat to the Central Government. Clause 149 of the Bill provides that if no request is made with respect to such unclaimed amount within a period of twenty-f....
Clause 150	:	Reporting of accounts and audit. Clause 150 of the Bill deals with accounts and audit of the Fund. ....
Clause 151	:	Power of Central Government to make rules. Clause 151 of the Bill empowers the Central Government to make rules and laying of the same before both Houses of Parliament....
Clause 152	:	Power to exempt in certain cases Clauses 152 to 153 of the Bill deal with power of the Central Government to exempt in certain cases and power of the Central....
Clause 153	:	Power to remove difficulties Clauses 152 to 153 of the Bill deal with power of the Central Government to exempt in certain cases and power of the Central....
Chapter: IX PART I
MISCELLANEOUS - AMENDMENTS TO THE RESERVE BANK OF INDIA ACT, 1934
Clause 154	:	Commencement and amendment of Act 2 of 1934 -Amendment of section 17 Clause 154 of the Bill seeks to amend certain provisions of the Reserve Bank of India Act, 1934. It is proposed to amend sec....
Clause 155	:	Amendment of section 21 Clauses 155 to 157 of the Bill seeks to make further amendments in sections 21, 45U and 45W of the Reserve Bank of India Act....
Clause 156	:	Amendment of section 21. Clauses 155 to 157 of the Bill seeks to make further amendments in sections 21, 45U and 45W of the Reserve Bank of India Act....
Clause 157	:	Amendment of section 45W. Clauses 155 to 157 of the Bill seeks to make further amendments in sections 21, 45U and 45W of the Reserve Bank of India Act....
Chapter: IX PART II
AMENDMENTS TO THE FORWARD CONTRACTS (REGULATION) ACT, 1952
Clause 158	:	Commencement and amendment of Act 74 of 1952 - Insertion of new section 28A - Savings of recognised associations Clause 158 of the Bill seeks to amend certain provisions of the Forward Contracts (Regulation) Act, 1952. It is proposed to ....
Clause 159	:	Insertion of new sections 29A and 29B- Repeal and savings Clause 159 of the Bill seeks to insert a new section 29A which relating to repeal of the Forward Contracts (Regulation) Act ....
Chapter: IX PART III
AMENDMENTS TO THE SECURITIES CONTRACTS (REGULATION) ACT, 1956
Clause 160	:	Commencement and amendment of Act 42 of 1956 -Amendment of section 2 Clause 160 of the Bill seeks to amend certain provisions of the Securities Contracts (Regulation) Act, 1956. It is proposed ....
Clause 161	:	Amendment of section 18A Clause 161 of the Bill seeks to amend section 18-A of the securities contracts (Regulation) Act, 1952 relating to contracts ....
Clause 162	:	Insertion of new section 30A-Special provisions related to commodity derivatives Clause 162 of the Bill seeks to insert a new section 30A which relates to special provisions in respect of commodity derivat....
Chapter: IX PART IV
AMENDMENT TO THE FINANCE (No.2) ACT, 1998
Clause 163	:	Amendment of Second Schedule Clause 163 seeks to amend the Second Schedule to the Finance (No. 2) Act, 1998, so as to increase the rates of additional du....
Chapter: IX PART V
AMENDMENT TO THE FINANCE ACT, 1999
Clause 164	:	Amendment of Second Schedule Clause 164 seeks to amend the Second Schedule to the Finance Act, 1999, so as to increase the rates of additional duty of cu....
Chapter: IX PART VI
AMENDMENTS TO THE FOREIGN EXCHANGE MANAGEMENT ACT, 1999
Clause 165	:	Commencement and amendment of Act 42 of 1999- Amendment of section 2 Clause 165 of the Bill seeks to amend certain provisions of the Foreign Exchange and Management Act, 1999. It is proposed to....
Clause 166	:	Amendment of section 6 . Clauses 166 and 170 of the Bill seek to amend sections 18, 34, 46 and 47 of the Foreign Exchange and Management Act, 1999. T....
Clause 167	:	Amendment of section 18 Clauses 166 and 170 of the Bill seek to amend sections 18, 34, 46 and 47 of the Foreign Exchange and Management Act, 1999. T....
Clause 168	:	Insertion of new section 37A- Special provisions relating to assets held outside India in contravention of section 4. Clauses 166 and 170 of the Bill seek to amend sections 18, 34, 46 and 47 of the Foreign Exchange and Management Act, 1999. T....
Clause 169	:	Amendment of section 46 Clauses 166 and 170 of the Bill seek to amend sections 18, 34, 46 and 47 of the Foreign Exchange and Management Act, 1999. T....
Clause 170	:	Amendment of section 47. Clauses 166 and 170 of the Bill seek to amend sections 18, 34, 46 and 47 of the Foreign Exchange and Management Act, 1999. T....
Chapter: IX PART VII
AMENDMENTS TO THE PREVENTION OF MONEY-LAUNDERING ACT, 2002
Clause 171	:	Amendment of section 2 Clause 171 of the Bill seeks to amend sub-section (1) of section 2 of the Prevention of Money-laundering Act, 2002 (2002 Act....
Clause 172	:	Amendment of section 5 Clause 172 of the Bill seeks to amend the second proviso to sub-section (1) of section 5 of the 2002 Act so as to substitute....
Clause 173	:	Amendment of section 8. Clause 173 of the Bill seeks to amend section 8 of the 2002 Act relating to Adjudication. Sub-clause (i) seeks to substitute....
Clause 174	:	Amendment of section 20 Clause 174 of the Bill seeks to amend section 20 of the 2002 Act. This clause seeks to amend sub-section (5) of the said sec....
Clause 175	:	Amendment of section 21 . Clause 175 of the Bill seeks to amend section 21 of the 2002 Act. Sub-section (5) of section 21 deals with the order of conf....
Clause 176	:	Amendment of section 60. Clause 176 of the Bill seeks to amend section 60 of the 2002 Act relating to attachment, seizure and confiscation, etc., of ....
Clause 177	:	Amendment of Schedule Clause 177 of the Bill seeks to amend the Schedule to the 2002 Act. It seeks to insert section 132 of the Customs Act, 1962 ....
Chapter: IX PART VIII
AMENDMENT TO THE FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT ACT, 2003
Clause 178	:	Amendment of section 4. Clause 178 of the Bill seeks to amend section 4 of the fiscal responsibility and Budget Management Act, 2003 so as to enhanc....
Chapter: IX PART IX
AMENDMENTS TO THE FINANCE (No.2) ACT, 2004
Clause 179	:	Omission of section 95 . Clause 179 of the Bill seeks to omit section 95 of the Finance (No. 2) Act, 2004 with effect from such date as the Central G....
Clause 180	:	Amendment of section 97 Clause 180 of the Bill seeks to insert a new clause (5AA) in section 97 of the 2004 Act. It is also proposed to provide that....
Clause 181	:	Amendment of section 98 Clause 181 of the Bill seeks to amend the Table given under section 98 of the 2004 Act which specifies the rates at which th....
Clause 182	:	Amendment of section 100. Clause 182 of the Bill seeks to amend section 100 of the 2004 Act to provide that- (a) the lead merchant banker appointed by....
Clause 183	:	Amendment of section 101. Clause 183 of the Bill seeks to amend section 101 of the 2004 Act to provide that every stock exchange or the lead merchant ....
Chapter: IX PART X
AMENDMENT TO THE FINANCE ACT, 2005
Clause 184	:	Amendment of Seventh Schedule Clause 184 seeks to amend the Seventh Schedule to the Finance Act, 2005 so as to omit the sub-heading 2202 10 and the entrie....
Chapter: IX PART XI
AMENDMENTS TO THE GOVERNMENT SECURITIES ACT, 2006
Clause 185	:	Commencement and amendment of Act 38 of 2006- Insertion of new section 34A- Power of the Bank transitioned to Public Debt Management Agency. Clause 185 of the Bill seeks to amend certain provisions of the Government Securities Act, 2006. It is proposed to amend the....
Clause 186	:	Insertion of new section 35A- Repeal and saving Clause 186 of the Bill seeks to insert a new section 35A which relates to repeal of the 2006 Act on the date notified by the....
Chapter: IX PART XII
AMENDMENT TO THE FINANCE ACT, 2007
Clause 187	:	Omission of section 140. Clause 187 of the Bill seeks to omit section 140 of the Finance Act, 2007so as to withdraw levy of Secondary and Higher Educ....
Chapter: IX PART XIII
AMENDMENT TO THE FINANCE ACT, 2010
Clause 188	:	Amendment of Tenth Schedule . Clause 188 of the Bill seeks to amend the Tenth Schedule to the Finance Act, 2010, so as to increase the rate of Clean Energ....
SCHEDULES
Schedule 01	:	THE FIRST SCHEDULE -(See section 2)
Schedule 02	:	THE SECOND SCHEDULE - (See section 89)
Schedule 03	:	THE THIRD SCHEDULE - (See section 102)
Schedule 04	:	THE FOURTH SCHEDULE - (See section 103)
Schedule 05	:	THE FIFTH SCHEDULE - (See section 104)
Chapter: Notes
Notes on clauses
MEMO	:	MEMORANDUM REGARDING DELEGATED LEGISLATION
Memorandum	:	Memorandum Explaining the Provisions in The Finance Bill, 2015
Notes-1	:	Notes on clauses - Income tax
Notes-2	:	Notes on clauses - Customs
Notes-3	:	Notes on clauses - Customs Tariff
Notes-4	:	Notes on clauses - Central Excise
Notes-5	:	Notes on Clauses - Central Excise Tariff
Notes-6	:	Notes on Clauses - Service tax
Notes-7	:	Notes on Clauses - Swachh Bharat Cess
STATEMENT	:	STATEMENT OF OBJECTS AND REASONS