Clause 125 - Grants by the Central Government - Direct Taxes Code Bill, 2009

Grants by the Central Government 125. (1) The Board shall prepare an estimate of the sums of money which may be required in any financial year for meeting the following expenditure:- (a) the salaries, allowances and other remuneration of the Members, officers, and other employees of the Board, its attached offices and the Income-tax Department; and (b) the expenses of the Board, its attached offices and the Income-tax Department in the discharge of its functions under this Code. (2) The estimate prepared under sub-section (1) shall, on approval by the Central Government with such modifications as may be considered necessary on the basis of discussion with the Board, be presented to the Parliament for due appropriation by law. (3) The Central Government shall, after due appropriation under sub-section (2), make to the Board grants of the amount so appropriated for being utilised for the purposes referred to in sub-section (1). (4) The administration of the grant referred to in sub-section (3) shall, regardless of anything contained in any other law or rules, vest in the Board.