Finance Bill, 2018

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 charge....
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. Clause ( 22 ) of the said secti....
Clause 4	:	Amendment of section 9. Clause 4 of the Bill seeks to amend section 9 of the Income-tax Act relating to income deemed to accrue or arise in India. E....
Clause 5	:	Amendment of section 10 Clause 5 of the Bill seeks to amend section 10 of the Income-tax Act relating to incomes not included in total income. The s....
Clause 6	:	Amendment of section 11 Clause 6 of the Bill seeks to amend section 11of the Income-tax Act relating to income from property held for charitable or ....
Clause 7	:	Amendment of section 16 Clause 7 of the Bill seeks to amend section 16 of the Income-tax Act relating to deductions from salaries. The existing prov....
Clause 8	:	Amendment of section 17 Clause 8 of the Bill seeks to amend section 17 of the Income-tax Act relating to Salary , perquisite and profits in lieu of ....
Clause 9	:	Amendment of section 28 Clause 9 of the Bill seeks to amend section 28 of the Income-tax Act relating to profits and gains of business or profession....
Clause 10	:	Amendment of section 36. Clause 10 of the Bill seeks to amend section 36 of the Income-tax Act relating to other deductions. Sub-section ( 1 ) of the....
Clause 11	:	Amendment of section 40A. Clause 11 of the Bill seeks to amend section 40A of the Income-tax Act relating to expenses or payments not deductible in ce....
Clause 12	:	Amendment of section 43. Clause 12 of the Bill seeks to amend section 43 of the Income-tax Act relating to definitions of certain terms relevant to i....
Clause 13	:	Insertion of new section 43AA- Taxation of foreign exchange fluctuation Clause 13 of the Bill seeks to insert a new section 43AA in the Income-tax Act relating to taxation of foreign exchange fluc....
Clause 14	:	Amendment of section 43CA. Clause 14 of the Bill seeks to amend section 43CA of the Income-tax Act relating to special provision for full value of cons....
Clause 15	:	Insertion of new section 43CB- Computation of income from construction and service contracts. Clause 15 of the Bill seeks to insert a new section 43CB in the Income-tax Act relating to computation of income from constr....
Clause 16	:	Amendment of section 44AE. Clause 16 of the Bill seeks to amend section 44AE of the Income-tax Act relating to special provision for computing profits ....
Clause 17	:	Amendment of section 47. Clause 17 of the Bill seeks to amend section 47 of the Income-tax Act relating to transactions not regarded as transfer. The....
Clause 18	:	Amendment of section 49. Clause 18 of the Bill seeks to amend section 49 of the Income-tax Act relating to cost with reference to certain modes of ac....
Clause 19	:	Amendment of section 50C Clause 19 of the Bill seeks to amend section 50C of the Income-tax Act relating to special provision for full value of consi....
Clause 20	:	Amendment of section 54EC. Clause 20 of the Bill seeks to amend section 54EC of the Income-tax Act relating to capital gain not to be charged on invest....
Clause 21	:	Amendment of section 56 Clause 21 of the Bill seeks to amend section 56 of the Income-tax Act relating to income from other sources. Clause ( x ) of....
Clause 22	:	Amendment of section 79 Clause 22 of the Bill seeks to amend section 79 [as substitued by section 32 of the Finance Act, 2017] of the Income-tax Act....
Clause 23	:	Substitution of new section for section 80AC- Deduction not to be allowed unless return furnished Clause 23 of the Bill seeks to amend section 80AC of the Income-tax Act relating to deduction not to be allowed unless retur....
Clause 24	:	Amendment of section 80D. Clause 24 of the Bill seeks to amend section 80D of the Income-tax Act relating to deduction in respect of health insurance ....
Clause 25	:	Amendment of section 80DDB. Clause 25 of the Bill seeks to amend section 80DDB of the Income-tax Act relating to deduction in respect of medical treatme....
Clause 26	:	Amendment of section 80-IAC. Clause 26 of the Bill seeks to amend section 80-IAC of the Income-tax Act relating to special provision in respect of specif....
Clause 27	:	Amendment of section 80JJAA. Clause 27 of the Bill seeks to amend section 80JJAA of the Income-tax Act relating to deduction in respect of employment of ....
Clause 28	:	Insertion of new section 80PA-Deduction in respect of certain income of Producer Companies Clause 28 of the Bill seeks to insert a new section 80PA of the Income-tax Act relating to deduction in respect of certain i....
Clause 29	:	Amendment of section 80TTA Clause 29 of the Bill seeks to amend section 80TTA of the Income-tax Act relating to deduction in respect of interest on dep....
Clause 30	:	Insertion of new section 80TTB-Deduction in respect of interest on deposits in case of senior citizens Clause 30 of the Bill seeks to insert a new section 80TTB in the Income-tax Act relating to deduction in respect of interest....
Clause 31	:	Insertion of new section 112A-Tax on long term capital gains in certain cases. Clause 31 of the Bill seeks to insert a new section 112A of the Income-tax Act relating to tax on long-term capital gains in....
Clause 32	:	Amendment of section 115AD. Clause 32 of the Bill seeks to amend section 115AD of the Income-tax Act relating to tax on income of Foreign Institutional ....
Clause 33	:	Amendment of section 115BA. Clause 33 of the Bill seeks to amend section 115BA of the Income-tax Act relating to tax on income of certain domestic compa....
Clause 34	:	Amendment of section 115BBE. Clause 34 of the Bill seeks to amend section 115BBE of the Income-tax Act relating to tax on income referred to in section 6....
Clause 35	:	Amendment of section 115JB. Clause 35 of the Bill seeks to amend section 115JB of the Income-tax Act relating to special provision for payment of tax by....
Clause 36	:	Amendment of section 115JC. Clause 36 of the Bill seeks to amend section 115JC of the Income-tax Act relating to special provisions for payment of tax b....
Clause 37	:	Amendment of section 115JF. Clause 37 seeks to amend section 115JF of the Income-tax Act relating to interpretation in this Chapter. It is proposed to a....
Clause 38	:	Amendment of section 115-O. Clause 38 of the Bill seeks to amend section 115-O of the Income-tax Act relating to tax on distributed profits of domestic ....
Clause 39	:	Omission of Explanation occurring after section 115Q. Clause 39 of the Bill seeks to omit the Explanation occurring after section 115Q of the Income-tax Act. The said Explanation....
Clause 40	:	Amendment of section 115R. Clause 40 of the Bill seeks to amend section 115R of the Income-tax Act relating to tax on distributed income to unit holder....
Clause 41	:	Amendment of section 115T. Clause 41 of the Bill seeks to amend section 115T of the Income-tax Act relating to Unit Trust of India or Mutual Fund to be....
Clause 42	:	Amendment of section 139A. Clause 42 of the Bill seeks to amend section 139A of the Incometax Act relating to permanent account number. Sub-section ( 1....
Clause 43	:	Amendment of section 140. Clause 43 of the Bill seeks to amend section 140 of the Income-tax Act relating to return by whom to be verified. It is prop....
Clause 44	:	Amendment of section 143. Clause 44 of the Bill seeks to amend section 143 of the Income-tax Act relating to assessment. Clause ( a ) of sub-section (....
Clause 45	:	Substitution of new sections 145A and 145B for section 145A-Method of accounting in certain cases-Taxability of certain income Clause 45 of the Bill seeks to substitute new sections 145A and 145B for section 145A of the Income-tax Act relating to meth....
Clause 46	:	Amendment of section 193. Clause 46 of the Bill seeks to amend section 193 of the Income-tax Act relating to interest on securities. It is proposed to....
Clause 47	:	Amendment of section 194A. Clause 47 of the Bill seeks to amend section 194A of the Income-tax Act relating to interest other than interest on securiti....
Clause 48	:	Amendment of section 245-O. Clause 48 of the Bill seeks to amend section 245-O of the Income-tax Act relating to Authority for Advance Rulings. The said....
Clause 49	:	Amendment of section 245Q. Clause 49 of the Bill seeks to amend section 245Q of the Incometax Act relating to application for advance ruling. The said ....
Clause 50	:	Amendment of section 253. Clause 50 of the Bill seeks to amend section 253 of the Income-tax Act relating to appeals to the Appellate Tribunal. Sub-se....
Clause 51	:	Amendment of section 271FA. Clause 51 of the Bill seeks to amend section 271FA of the Income-tax Act relating to penalty for failure to furnish statemen....
Clause 52	:	Amendment of section 276CC. Clause 52 of the Bill seeks to amend section 276CC of the Income-tax Act relating to failure to furnish returns of income. S....
Clause 53	:	Amendment of section 286. Clause 53 of the Bill seeks to amend section 286 of the Income-tax Act relating to furnishing of report in respect of intern....
Chapter: IV
INDIRECT TAXES
Customs
Clause 54	:	Substitution of references to certain expressions by certain other expressions Clause 54 of the Bill seeks to amend the Customs Act with a view to substitute reference to the expression import manifest w....
Clause 55	:	Amendment of section 1. Clause 55 of the Bill seeks to amend section 1 of the Customs Act so as to expand the scope of the said Act and make it appl....
Clause 56	:	Amendment of section 2. Clause 56 of the Bill seeks to amend section 2 of the Customs Act relating to definitions so as to define certain expression....
Clause 57	:	Amendment of section 11 Clause 57 of the Bill seeks to amend section 11 of the Customs Act so as to insert a new sub-section ( 3 ) therein, with eff....
Clause 58	:	Amendment of Amendment of section 17. Clause 58 of the Bill seeks to amend section 17 of the Customs Act so as to broaden the scope of verification by the proper ....
Clause 59	:	Amendment of section 18. Clause 59 of the Bill seeks to amend section 18 of the Customs Act relating to provisional assessment of duty. It is propose....
Clause 60	:	Insertion of new sections 25A and 25B-Inward processing of goods-Outward processing of goods. Clause 60 of the Bill seeks to insert new sections 25A and 25B in the Customs Act. The proposed new section 25A empowers the....
Clause 61	:	Amendment of section 28. Clause 61 of the Bill seeks to amend section 28 of the Customs Act so as to insert a proviso in clause ( a ) of sub-section ....
Clause 62	:	Amendment of section 28E. Clause 62 of the Bill seeks to amend section 28E of the Customs Act to align the definition of the term applicant in the adv....
Clause 63	:	Insertion of new section 28EA-Customs Authority for Advance Rulings. Clause 63 of the Bill seeks to insert a new section 28EA in the Customs Act for appointment of the Customs Authority for Adv....
Clause 64	:	Amendment of section 28F Clause 64 of the Bill seeks to amend sub-section ( 1 ) of section 28F of the Customs Act so as to substitute the words Appel....
Clause 65	:	Amendment of section 28H. Clause 65 of the Bill seeks to amend sub-section ( 2 ) of section 28H of the Customs Act to empower the Central Government t....
Clause 66	:	Amendment of section 28-I. Clause 66 of the Bill seeks to amend sub-section ( 6 ) of section 28-I of the Customs Act to reduce the time limit from six ....
Clause 67	:	Amendment of section 28K. Clause 67 of the Bill seeks to amend sub-section ( 1 ) of section 28K of the Customs Act so as to omit the brackets and word....
Clause 68	:	Insertion of new section 28KA-Appeal. Clause 68 of the Bill seeks to insert a new section 28KA in the Customs Act to provide for appeal to the Appellate Authority....
Clause 69	:	Amendment of section 28L Clause 69 of the Bill seeks to amend section 28L of the Customs Act to insert the words Appellate Authority therein, so as t....
Clause 70	:	Substitution of new section for section 28M-Procedure for Authority and Appellate Authority. Clause 70 of the Bill seeks to substitute the existing section 28M of the Customs Act with a new section so as to provide th....
Clause 71	:	Amendment of section 30. Clause 71 of the Bill seeks to amend section 30 of the Customs Act so as to include export goods in addition to imported goo....
Clause 72	:	Amendment of section 41. Clause 72 of the Bill seeks to amend section 41 of the Customs Act so as to include imported goods in addition to export goo....
Clause 73	:	Amendment of section 45. Clause 73 of the Bill seeks to make consequential amendments in section 45 in view of the amendments in sections 47, 51 and ....
Clause 74	:	Amendment of section 46. Clause 74 of the Bill seeks to amend section 46 of the Customs Act so as to insert a reference to customs automated system i....
Clause 75	:	Amendment of section 47. Clause 75 of the Bill seeks to amend section 47 of the Customs Act so as to insert a proviso therein, to provide for customs....
Clause 76	:	Amendment of section 50. Clause 76 of the Bill seeks to amend section 50 of the Customs Act so as to insert a reference to customs automated system i....
Clause 77	:	Amendment of section 51. Clause 77 of the Bill seeks to amend section 51 of the Customs Act so as to insert a proviso therein, to provide for customs....
Clause 78	:	Insertion of new Chapter VIIA-Payment of duty, interest, penalty, etc Clause 78 of the Bill seeks to introduce a new Chapter VIIA in the Customs Act relating to payment through electronic cash l....
Clause 79	:	Amendment of section 54 Clause 79 of the Bill seeks to amend section 54 of the Customs Act so as to provide by regulations the manner of presenting ....
Clause 80	:	Amendment of section 60. Clause 80 of the Bill seeks to amend section 60 of the Customs Act so as to insert a proviso therein, to provide for customs....
Clause 81	:	Amendment of section 68. Clause 81 of the Bill seeks to amend section 68 of the Customs Act so as to insert a proviso therein, to provide for customs....
Clause 82	:	Amendment of section 69. Clause 82 of the Bill seeks to amend section 69 of the Customs Act so as to insert a proviso therein, to provide for customs....
Clause 83	:	Amendment of section 74. Clause 83 of the Bill seeks to amend section 74 of the Customs Act to omit the reference to section 82 therein, which had be....
Clause 84	:	Amendment of section 75. Clause 84 of the Bill seeks to amend section 75 of the Customs Act to omit reference to section 82 , which had been omitted ....
Clause 85	:	Amendment of Chapter heading. Clause 85 of the Bill seeks to amend Chapter heading of Chapter XI so as to include reference to courier . ....
Clause 86	:	Amendment of section 83. Clause 86 of the Bill seeks to amend section 83 of the Customs Act to include reference to goods imported or exported by cou....
Clause 87	:	Amendment of section 84 Clause 87 of the Bill seeks to amend section 84 of the Customs Act to include reference to import or export of goods by cour....
Clause 88	:	Insertion of new Chapter XIIA- Audit. Clause 88 of the Bill seeks to insert a new Chapter XIIA in the Customs Act relating to audit. The proposed new section 99A ....
Clause 89	:	Insertion of new section 109A-Power to undertake controlled delivery. Clause 89 of the Bill seeks to insert a new section 109A in the Customs Act relating to controlled delivery. It seeks to aut....
Clause 90	:	Amendment of section 110. Clause 90 of the Bill seeks to amend section 110 of the Customs Act so as to give power to extend the period for issuing sho....
Clause 91	:	Amendment of section 122. Clause 91 of the Bill seeks to substitute clauses ( b ) and ( c ) of section 122 of the Customs Act with a new clause ( b ) ....
Clause 92	:	Amendment of section 124. Clause 92 of the Bill seeks to amend section 124 of the Customs Act to insert a proviso therein, to provide for issuing a su....
Clause 93	:	Amendment of section 125. Clause 93 of the Bill seeks to amend section 125 of the Customs Act by inserting a proviso in sub-section ( 1 ) thereof, so ....
Clause 94	:	Amendment of section 128A. Clause 94 of the Bill seeks to amend sub-section ( 3 ) of section 128A of the Customs Act, to empower the Commissioner (Appe....
Clause 95	:	Insertion of new section 143AA-Power to simplify or provide different procedure, etc., to facilitate trade. Clause 95 of the Bill seeks to insert a new section 143AA in the Customs Act so as to empower the Board to take measures and....
Clause 96	:	Insertion of new section 151B-Reciprocal arrangement for exchange of information facilitating trade. Clause 96 of the Bill seeks to introduce a new section 151B in the Customs Act relating to reciprocal arrangement for exchan....
Clause 97	:	Substitution of new section for section 153-Modes for service of notice, order, etc. Clause 97 of the Bill seeks to substitute a new section for section 153 of the Customs Act so as to include speed post, cour....
Clause 98	:	Amendment of section 157 Clause 98 of the Bill seeks to amend section 157 of the Customs Act so as to empower the Board, inter alia , to make regulat....
Clause 99	:	Amendment of notification issued under sub-section (1) of section 25 of Customs Act and sub-section (12) of section 3 of Customs Tariff Act, retrospectively. Clause 99 of the Bill seeks to give retrospective effect to the notification number G.S.R. 850( E ), dated the 8th July, 201....
Customs Tariff
Clause 100	:	Amendment of Customs Tariff Act, 1975 Clause 100 of the Bill seeks to amend section 3 of the Customs Tariff Act. Sub-clause ( i ) of said clause seek to amend sub....
Clause 101	:	Amendment of First Schedule Clause 101 of the Bill seeks to amend the First Schedule to the Customs Tariff Act,- ( a ) in the manner specified in the Se....
Clause 102	:	Amendment of Second Schedule Clause 102 of the Bill seeks to amend the Second Schedule to the Customs Tariff Act,- ( a ) to insert a new Note 4 therein, ....
SERVICE TAX
Clause 103	:	Special provision for exemption from service tax in certain cases relating to life insurance services provided by Naval Group Insurance Fund to personnel of Coast Guard, retrospectively. Clause 103 of the Bill seeks to provide exemption from service tax to life insurance services provided by the Naval Group In....
Clause 104	:	Special provision for exemption from service tax in certain cases relating to services provided or agreed to be provided by Goods and Services Tax Network, retrospectively. Clause 104 of the Bill seeks to provide exemption from service tax to services provided by the Goods and Services Tax Networ....
Clause 105	:	Special provision for retrospective exemption from service tax on Government’s share of profit petroleum. Clause 105 of the Bill seeks to provide retrospective exemption from service tax on provision of services by way of grant of....
Chapter: V
REPEAL AND SAVINGS OF CERTAIN ENACTMENTS
Clause 106	:	Repeal and savings of certain enactments Clause 106 of the Bill seeks to repeal certain enactments specified in the Fifth Schedule to the extent mentioned in the fou....
Clause 107	:	Collection and payment of arrears of duties. Clause 107 of the Bill seeks to provide for collection and payment of arrears of duties notwithstanding the repeal of the en....
Chapter: VI
SOCIAL WELFARE SURCHARGE
Clause 108	:	Social Welfare Surcharge on imported goods Clause 108 of the Bill seeks to provide for levy and collection of Social Welfare Surcharge as a duty of Customs, on goods s....
Chapter: VII
ROAD AND INFRASTRUCTURE CESS
Clause 109	:	Road and Infrastructure Cess on imported goods Clause 109 of the Bill seeks to provide for levy and collection of Road and Infrastructure Cess as additional duty of custom....
Clause 110	:	Road and Infrastructure Cess on excisable goods. Clause 110 of the Bill seeks to provide for levy and collection of Road and Infrastructure Cess as an additional duty of exc....
Chapter: VIII
MISCELLANEOUS
Part: I
AMENDMENTS TO THE GOVERNMENT SAVINGS BANKS ACT, 1873
Clause 111	:	Commencement of this Part Clause 111 of the Bill seeks to provide for commencement of Part I of Chapter VIII from such date as may be notified by the ....
Clause 112	:	Substitution of long title to Act 5 of 1873 Clause 112 of the Bill seeks to amend long title of the Government Savings Banks Act, 1873. ....
Clause 113	:	Amendment of short title. Clause 113 of the Bill seeks to amend short title of the Act. ....
Clause 114	:	Substitution of words ‘‘Authorised Officer’’ for the word ‘‘Secretary’’ throughout Act Clause 114 of the Bill seeks to substitute the words Authorised Officer for Secretary , throughout the Act. ....
Clause 115	:	Omission of section 2. Clause 115 of the Bill seeks to omit section 2 of the Act. ....
Clause 116	:	Substitution of new sections 3, 3A and 3B for section 3- Definitions-Framing of Savings Schemes-Deposit by minor. Clause 116 of the Bill seeks to substitute new sections 3, 3A and 3B for the existing section 3. Section 3 relates to defini....
Clause 117	:	Amendment of section 4. Clause 117 of the Bill seeks to substitute sub-section ( 1 ) of section 4 of the Act to give the depositor the right to spec....
Clause 118	:	Amendment of section 4A. Clause 118 of the Bill seeks to amend section 4A of the Act so as to insert a new sub-section ( 3A ) to make a provision for....
Clause 119	:	Amendment of section 5 Clause 119 of the Bill seeks to amend section 5 of the Act to substitute certain words. ....
Clause 120	:	Amendment of section 6 Clause 120 of the Bill seeks to amend section 6 of the Act to substitute certain words. ....
Clause 121	:	Amendment of section 7. Clause 121 of the Bill seeks to amend section 7 of the Act to substitute certain words. ....
Clause 122	:	Insertion of new section 7A-Power to call for information Clause 122 of the Bill seeks to insert a new section 7A. The proposed new section 7A empowers the Central Government to call....
Clause 123	:	Amendment of section 8 Clause 123 of the Bill seeks to amend section 8 of the Act which relates to exemption from payment of court fee on the proba....
Clause 124	:	Amendment of section 10. Clause 124 of the Bill seeks to amend section 10 of the Act to substitute certain words. ....
Clause 125	:	Amendment of section 12. Clause 125 of the Bill seeks to amend section 12 of the Act to substitute certain words. ....
Clause 126	:	Insertion of new section 12A- Operation of account by differently abled persons. Clause 126 of the Bill seeks to insert a new section 12A to provide for operation of account by differently abled persons in....
Clause 127	:	Omission of heading Clauses 127 and 128 of the Bill seek to omit the heading and section 13 of the Act respectively. ....
Clause 128	:	Omission of section 13. Clauses 127 and 128 of the Bill seek to omit the heading and section 13 of the Act respectively. ....
Clause 129	:	Amendment of section 14. Clause 129 of the Bill seeks to amend section 14 of the Act, so as to substitute the word Government with the words Central ....
Clause 130	:	Amendment of section 15 Clause 130 of the Bill seeks to amend section 15 of the Act which relates to power of the Central Government to make rules. ....
Clause 131	:	Insertion of new section and Schedule-Repeal and savings Clause 131 of the Bill seeks to insert a new section 16 to provide for repeal of the Government Savings Certificates Act, 19....
Part: II
AMENDMENT TO THE RESERVE BANK OF INDIA ACT, 1934
Clause 132	:	Amendment of section 17 of Act 2 of 1934 Clause 132 of the Bill seeks to amend section 17 of the Reserve Bank of India Act, 1934 relating to business which the bank ....
Part: III
AMENDMENTS TO THE PRESIDENT’S EMOLUMENTS AND PENSION ACT, 1951
Clause 133	:	Commencement of this Part. Clauses 133 to 136 of the Bill seeks to amend section 1A, clause ( b ) of sub-section ( 2 ) of section 2 and sub-clause ( ii....
Clause 134	:	Amendment of section 1A. Clauses 133 to 136 of the Bill seeks to amend section 1A, clause ( b ) of sub-section ( 2 ) of section 2 and sub-clause ( ii....
Clause 135	:	Amendment of section 2 Clauses 133 to 136 of the Bill seeks to amend section 1A, clause ( b ) of sub-section ( 2 ) of section 2 and sub-clause ( ii....
Clause 136	:	Amendment of section 3A Clauses 133 to 136 of the Bill seeks to amend section 1A, clause ( b ) of sub-section ( 2 ) of section 2 and sub-clause ( ii....
Part: IV
AMENDMENT TO THE SALARIES AND ALLOWANCES OF OFFICERS OF PARLIAMENT ACT, 1953
Clause 137	:	Amendment of section 3 of Act 20 of 1953 Clause 137 of the Bill seeks to amend the Salaries and Allowances of Officers of Parliament Act, 1953. Section 3 of the afor....
Part: V
AMENDMENTS TO THE SALARY, ALLOWANCES AND PENSION OF MEMBERS OF PARLIAMENT ACT, 1954
Clause 138	:	Commencement of this Part. Clauses 138 to 142 of the Bill seeks to amend the Salary, Allowances and Pension of Members of Parliament Act, 1954. Section....
Clause 139	:	Amendment of section 3 Clauses 138 to 142 of the Bill seeks to amend the Salary, Allowances and Pension of Members of Parliament Act, 1954. Section....
Clause 140	:	Amendment of section 4 Clauses 138 to 142 of the Bill seeks to amend the Salary, Allowances and Pension of Members of Parliament Act, 1954. Section....
Clause 141	:	Amendment of section 8A Clauses 138 to 142 of the Bill seeks to amend the Salary, Allowances and Pension of Members of Parliament Act, 1954. Section....
Clause 142	:	Amendment of section 8AC Clauses 138 to 142 of the Bill seeks to amend the Salary, Allowances and Pension of Members of Parliament Act, 1954. Section....
Part: VI
AMENDMENTS TO THE SECURITIES CONTRACTS (REGULATION) ACT, 1956
Clause 143	:	Commencement of this Part Clause 143 of the Bill seeks to provide for commencement of Part VI of Chapter VIII from such date as may be notified by the....
Clause 144	:	Amendment of section 12A Clause 144 of the Bill seeks to amend section 12A of the Securities Contracts (Regulation) Act, 1956 to empower the Board to....
Clause 145	:	Amendment of section 23 Clause 145 of the Bill seeks to amend section 23 of the Securities Contracts (Regulation) Act, 1956, as a consequential amen....
Clause 146	:	Amendment of section 23A Clause 146 of the Bill seeks to amend section 23A of the Act, to clarify that any person who furnishes or files false, incor....
Clause 147	:	Amendment of section 23E Clause 147 of the Bill seeks to amend section 23E of the Act, to provide for monetary penalty for failure to comply with lis....
Clause 148	:	Amendment of section 23G Clause 148 of the Bill seeks to amend section 23G of the Act, to clarify that any stock exchange, which furnishes or files f....
Clause 149	:	Insertion of new section 23GA-Penalty for failure to conduct business in accordance with rules, etc Clause 149 of the Bill seeks to insert a new section 23GA, so as to provide for penalty under the Act, for the failure of a ....
Clause 150	:	Amendment of section 23-I Clause 150 of the Bill seeks to substitute certain words in subsection ( 1 ) of section 23-I of the Act. ....
Clause 151	:	Amendment of section 23J Clause 151 of the Bill seeks to amend section 23J of the Act, as a consequential amendment, to ensure that the factors menti....
Clause 152	:	Amendment of section 23JA Clause 152 of the Bill seeks to amend section 23JA of the Act, to provide that the settlement amount (excluding legal costs ....
Clause 153	:	Amendment of section 23JB Clause 153 of the Bill seeks to amend section 23JB of the Act, as a consequential amendment, to provide for recovery in resp....
Clause 154	:	Insertion of new section 23JC - Continuance of proceedings Clause 154 of the Bill seeks to insert a new section 23JC of the Act to provide for the continuance of proceedings, except p....
Clause 155	:	Amendment of section 23M Clause 155 of the Bill seeks to amend section 23M of the Act, as a consequential amendments, to provide for prosecution in c....
Clause 156	:	Amendment of section 24 Clause 156 of the Bill seeks to amend section 24 of the Act to enlarge the scope of the section to cover enforcement proceed....
Part: VII
AMENDMENT TO THE CENTRAL BOARDS OF REVENUE ACT, 1963
Clause 157	:	Amendment of Act 54 of 1963 Clause 157 of the Bill seeks to amend the Central Boards of Revenue Act, 1963. Sub-clause ( a ) of said clause seeks to rena....
Part: VIII
AMENDMENT TO THE GOVERNORS (EMOLUMENTS, ALLOWANCES AND PRIVILEGES) ACT, 1982
Clause 158	:	Amendment of section 3 of Act 43 of 1982. Clause 158 of the Bill seeks to amend section 3 of the Governors (Emoluments, Allowances and Privileges) Act, 1982. Section ....
Part: IX
AMENDMENTS TO THE NATIONAL HOUSING BANK ACT, 1987
Clause 159	:	Commencement of this Part. Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 160	:	Amendment of section 3. Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 161	:	Amendment of section 4. Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 162	:	Amendment of section 5 Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 163	:	Amendment of section 6 Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 164	:	Amendment of section 7 Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 165	:	Amendment of section 16 Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 166	:	Amendment of section 29A Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 167	:	Amendment of section 33 Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 168	:	Amendment of section 33B Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 169	:	Amendment of section 37 Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 170	:	Amendment of section 39 Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 171	:	Amendment of section 40 Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 172	:	Amendment of section 43 Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 173	:	Amendment of section 45A Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Clause 174	:	Amendment of section 55 Clauses 159 to 174 of the Bill seek to amend certain provisions of the National Housing Bank Act, 1987. Accordintly, through....
Part: X
AMENDMENTS TO THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992
Clause 175	:	Commencement of this Part. Clause 175 of the Bill seeks to provide for commencement of Part X of Chapter VIII from such date as may be notified by the ....
Clause 176	:	Amendment of section 11. Clauses 176 and 177 of the Bill seek to amend sections 11 and 11B of the Securities and Exchange Board of India Act, 1992 to....
Clause 177	:	Amendment of section 11B. Clauses 176 and 177 of the Bill seek to amend sections 11 and 11B of the Securities and Exchange Board of India Act, 1992 to....
Clause 178	:	Amendment of section 15A. Clause 178 of the Bill seeks to amend section 15A of the Act, to clarify that any person who furnishes or files false, incor....
Clause 179	:	Insertion of new sections 15EA and 15EB.-Penalty for default in case of alternative investment funds, infrastructure investment trusts and real estate investment trusts.-Penalty for default in case of investment adviser and research analyst. Clause 179 of the Bill seeks to insert new sections 15EA and 15EB so as to provide for monetary penalty for failure to compl....
Clause 180	:	Amendment of section 15F. Clause 180 of the Bill seeks to amend section 15F of the Act, to omit certain references not relevant for a stock-broker. ....
Clause 181	:	Amendment of section 15-I. Clause 181 of the Bill seeks to amend section 15-I of the Act, as a consequential amendment so as to enable the Board to lev....
Clause 182	:	Amendment of section 15J. Clause 182 of the Bill seeks to amend section 15J of the Act, as a consequential amendment, to ensure that the factors menti....
Clause 183	:	Amendment of section 15JB. Clause 183 of the Bill seeks to amend section 15JB of the Act, to provide for credit of settlement amounts, excluding disgor....
Clause 184	:	Amendment of section 24. Clause 184 of the Bill seeks to amend section 24 of the Act, as a consequential amendment, to provide for prosecution in cas....
Clause 185	:	Amendment of section 27. Clause 185 of the Bill seeks to amend section 27 of the Act, to enlarge the scope of the section to cover enforcement procee....
Clause 186	:	Amendment of section 28A. Clause 186 of the Bill seeks to amend section 28A of the Act, as a consequential amendment, to provide for recovery in respe....
Clause 187	:	Insertion of new section 28B - Continuance of proceedings. Clause 187 of the Bill seeks to insert a new section 28B in the Act, so as to provide for the continuance of proceedings, ex....
Part: XI
AMENDMENTS TO THE DEPOSITORIES ACT, 1996
Clause 188	:	Commencement of this Part. Clause 188 of the Bill seeks to provide for commencement of Part XI of Chapter VIII from such date as may be notified by the....
Clause 189	:	Amendment of section 19. Clause 189 of the Bill seeks to amend section 19 of the Depositories Act, 1996 to empower the Board to levy monetary penalty....
Clause 190	:	Amendment of section 19A. Clause 190 of the Bill seeks to amend clause ( a ) and clause ( b ) of section 19A of the Act, to provide that any person wh....
Clause 191	:	Insertion of new section 19FA.-Penalty for failure to conduct business in a fair manner. Clause 191 of the Bill seeks to insert a new section 19FA in the Act, for imposing monetary penalty on a depository for fail....
Clause 192	:	Amendment of section 19H. Clause 192 of the Bill seeks to amend section 19H of the Act, to provide for the Board to levy monetary penalty under the sa....
Clause 193	:	Amendment of section 19-I. Clause 193 of the Bill seeks to amend section 19-I of the Act, to provide that the factors mentioned in the said section are....
Clause 194	:	Amendment of section 19-IA. Clause 194 of the Bill seeks to amend section 19-IA of the Act, to provide that the settlement amount (excluding legal costs....
Clause 195	:	Amendment of section 19-IB. Clause 195 of the Bill seeks to amend section 19-IB of the Act, so as to provide for recovery in respect of default in payme....
Clause 196	:	Insertion of new section 19-IC.-Continuance of proceedings. Clause 196 of the Bill seeks to insert a new section 19-IC in the Act, so as to provide for the continuance of proceedings, ....
Clause 197	:	Amendment of Chapter V. Clause 197 of the Bill seeks to make consequential amendment in the Chapter heading of the Act. ....
Clause 198	:	Amendment of section 20. Clause 198 of the Bill seeks to amend section 20 of the Act, to provide for prosecution in case of default in payment of mon....
Clause 199	:	Amendment of section 21. Clause 199 of the Bill seeks to amend section 21 of the Act, to enlarge the scope of the section to cover the enforcement pr....
Clause 200	:	Omission of heading. Clause 200 of the Bill seeks to omit heading occuring before section 22 of the Act. ....
Part: XII
AMENDMENTS TO THE VICE-PRESIDENT’S PENSION ACT, 1997
Clause 201	:	Amendment of section 2 of Act 30 of 1997. Clause 201 of the Bill seeks to amend section 2 of the Vice-President's Pension Act, 1997. Section 2 of the said Act rel....
Part: XIII
AMENDMENTS TO THE CENTRAL ROAD FUND ACT, 2000
Clause 202	:	Commencement of this Part. Clause 202 of the Bill seeks to provide for commencement of Part XIII of Chapter VIII from such date as may be notified by t....
Clause 203	:	Amendment of Act 54 of 2000.- Apportionment of share of fund by Committee. Clause 203 of the Bill seeks to amend various provisions of the Central Road Fund Act, 2000. Consequential amendments are al....
Part: XIV
AMENDMENTS TO THE PREVENTION OF MONEY-LAUNDERING ACT , 2002
Clause 204	:	Commencement of this Part. Clauses 204 and 205 of the Bill seeks to amend certain provisions of the Prevention of Money-laundering Act, 2002, which inc....
Clause 205	:	Amendements to Act 15 of 2003. Clauses 204 and 205 of the Bill seeks to amend certain provisions of the Prevention of Money-laundering Act, 2002, which inc....
Part: XV
AMENDMENTS TO THE FISCAL RESPONSIBILITY AND BUDGET MANAGEMENT ACT , 2003
Clause 206	:	Commencement of this Part. Clause 206 of the Bill provides for the commencement of Part XV of Chapter VIII from such date as may be notified by the Cen....
Clause 207	:	Amendment of long title. Clause 207 of the Bill seeks to amend the long title of the Fiscal Responsibility and Budget Management Act, 2003. It provid....
Clause 208	:	Amendment of section 2. Clause 208 of the Bill seeks to amend section 2 of the Act relating to definitions. It provides for substitution of definiti....
Clause 209	:	Amendment of section 3. Clause 209 of the Bill seeks to amend section 3 of the Act relating to fiscal policy statements to be laid before Parliament....
Clause 210	:	Amendment of section 4.-Fiscal management principles. Clause 210 of the Bill seeks to amend section 4 of the Act relating to fiscal management principles. It provides for substit....
Clause 211	:	Amendment of section 5. Clause 211 of the Bill seeks to amend the section 5 of the Act relating to borrowing from Reserve Bank. It provides for subs....
Clause 212	:	Amendment of section 7. Clause 212 of the Bill seeks to amend the section 7 of the Act relating to measures to enforce compliance. It provides to am....
Clause 213	:	Amendment of section 8. Clause 213 of the Bill seeks to amend section 8 relating to power to make rules which are consequential in nature to the ame....
Part: XVI
AMENDMENTS TO THE FINANCE (NO. 2) ACT, 2004
Clause 214	:	Amendment of Act 23 of 2004. Clause 214 of the Bill seeks to amend section 97 of the Finance (No.2) Act, 2004 relating to definitions. The existing provi....
Part: XVII
AMENDMENTS TO THE FINANCE ACT, 2013
Clause 215	:	Amendment of Act 17 of 2013.- Charge of commodities transaction tax.- Value of taxable commodities transaction. Clause 215 of the Bill seeks to amend sections 116, 117, 118 and 128 of the Finance Act, 2013 relating to commodities transa....
Part: XVIII
AMENDMENTS TO THE BLACK MONEY (UNDISCLOSED FOREIGN INCOME AND ASSETS) AND IMPOSITION OF TAX ACT, 2015
Clause 216	:	Amendment of Act 22 of 2015.- Amendment of section 46.- Amendment of section 55. Clause 216 of the Bill seeks to amend the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 201....
Part: XIX
AMENDMENT TO THE FINANCE ACT, 2016
Clause 217	:	Amendment of Act 28 of 2016. Clause 217 of the Bill seeks to amend section 236 of the Finance Act, 2016 which relates to amendment to sub-clause ( vi ) o....
Part: XX
AMENDMENT TO THE CENTRAL GOODS AND SERVICES TAX ACT, 2017
Clause 218	:	Amendment of section 2 of Act 12 of 2017.-Declaration under the Provisional Collection of Taxes Act, 1931 Clause 218 of the Bill seeks to amend clause ( 16 ) of section 2 of the Central Goods and Services Tax Act, 2017, so as to s....
SCHEDULES
SCHEDULE 01	:	THE FIRST SCHEDULE (See section 2)
SCHEDULE 02	:	THE SECOND SCHEDULE [See section 101 (a)]
SCHEDULE 03	:	THE THIRD SCHEDULE [See section 101 (b)]
SCHEDULE 04	:	THE FOURTH SCHEDULE [See section 102 (b)]
SCHEDULE 05	:	THE FIFTH SCHEDULE (See sections 106 and 107)
SCHEDULE 06	:	THE SIXTH SCHEDULE (See sections 109 and 110)
Notes on clauses
NOTES	:	Notes on clauses
MEMORANDUM REGARDING DELEGATED LEGISLATION
MEMO	:	MEMORANDUM REGARDING DELEGATED LEGISLATION
Memo	:	FINANCE BILL, 2018 PROVISIONS RELATING TO DIRECT TAXES