Daily Archives: April 1, 2018

Section 54 EC Income Tax Act : Capital gain not to be charged on investment in certain bonds.

By | April 1, 2018

Section 54 EC Income Tax Act 1[Capital gain not to be charged on investment in certain bonds. 54EC. (1) Where the capital gain arises from the transfer of a long-term capital asset 2[, being land or building or both,] (the capital asset so transferred being hereafter in this section referred to as the original asset) and the assessee… Read More »

Income Tax Calendar December 2018 : Due Dates

By | April 1, 2018

Income Tax Calendar December 2018 : Due Dates Following is the Income Tax Calendar for December 2018 i.e Due dates for various Returns / Certificate under Income Tax 7 December 2018 –Due date for deposit of Tax deducted/collected for the month of November, 2018. However, all sum deducted/collected by an office of the government shall be paid… Read More »

Income Tax Calendar November 2018 : Due Dates

By | April 1, 2018

Income Tax Calendar November 2018 : Due Dates Following is the Income Tax Calendar for November 2018 i.e Due dates for various Returns / Certificate under Income Tax 7 November 2018 –Due date for deposit of Tax deducted/collected for the month of October, 2018. However, all sum deducted/collected by an office of the government shall be paid… Read More »

Income Tax Calendar October 2018 : Due Dates

By | April 1, 2018

Income Tax Calendar October 2018 : Due Dates Following is the Income Tax Calendar for October 2018 i.e Due dates for various Returns / Certificate under Income Tax 7 October 2018 –Due date for deposit of tax deducted/collected for the month of September, 2018. However, all sum deducted/collected by an office of the government shall… Read More »

Income Tax Calendar September 2018 : Due Dates

By | April 1, 2018

Income Tax Calendar September 2018 : Due Dates Following is the Income Tax Calendar for September 2018 i.e Due dates for various Returns / Certificate under Income Tax 7 September 2018 –Due date for deposit of Tax deducted/collected for the month of August, 2018. However, all sum deducted/collected by an office of the government shall… Read More »

Income Tax Calendar August 2018 : Due Dates

By | April 1, 2018

Income Tax Calendar August 2018 : Due Dates Following is the Income Tax Calendar for August 2018 i.e Due dates for various Returns / Certificate under Income Tax 7 August 2018 –Due date for deposit of Tax deducted/collected for the month of July, 2018. However, all sum deducted/collected by an office of the government shall… Read More »

Section 221 of Finance Act 2018 : Amendment of section 2 of Act 12 of 2017

By | April 1, 2018

Section 221 of Finance Act 2018 [Section 221 of Finance Act 2018 deals with Amendment of section 2 of Act 12 of 2017 and is covered in CHAPTER VIII MISCELLANEOUS] PART XX AMENDMENT TO THE CENTRAL GOODS AND SERVICES TAX ACT, 2017 Amendment of section 2 of Act 12 of 2017 221. In the Central Goods and Services… Read More »

Section 112A of Income-tax Act 1961 : Tax on long-term capital gains in certain cases.

By | April 1, 2018

Section 112A of Income-tax Act 1961 – FA, 2018 Tax on interest on National Savings Certificates (First Issue). 112A. [Omitted by the Finance Act, 1988, w.e.f. 1-4-1989. Original section 112A was inserted by the Finance (No. 2) Act, 1965, w.e.f. 11-9-1965 and later on amended by the Finance Act, 1966, w.e.f. 1-4-1966, Finance (No. 2) Act,… Read More »

Section 145 of Finance Act 2018 : Amendment of section 8AC

By | April 1, 2018

Section 145 of Finance Act 2018 [Section 145 of Finance Act 2018 deals with Amendment of section 8AC and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 8AC 145. In the principal Act, in section 8AC, in sub-section (2), the words, brackets and figures “before the commencement of the Salary, Allowances and Pension of Members of Parliament… Read More »

Section 144 of Finance Act 2018 : Amendment of section 8A

By | April 1, 2018

Section 144 of Finance Act 2018 [Section 144 of Finance Act 2018 deals with Amendment of section 8A and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 8A 144. In the principal Act, in section 8A, in sub-section (1),— (a) for the words “twenty thousand rupees”, the words “twenty-five thousand rupees” shall be substituted; (b) in the… Read More »

Section 143 of Finance Act 2018 : Amendment of section 4

By | April 1, 2018

Section 143 of Finance Act 2018 [Section 143 of Finance Act 2018 deals with Amendment of section 4 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 4 143. In the principal Act, in section 4, in sub-section (1),— (i) clause (a) shall be omitted; (ii) in clause (b), the words “and one-fourth of the” shall be… Read More »

Section 141 of Finance Act 2018 : Commencement of this Part

By | April 1, 2018

Section 141 of Finance Act 2018 [Section 141 of Finance Act 2018 deals with Amendment of section 3 of Act 20 of 1953 and is covered in CHAPTER VIII MISCELLANEOUS] PART V AMENDMENTS TO THE SALARY, ALLOWANCES AND PENSION OF MEMBERS OF PARLIAMENT ACT, 1954 Commencement of this Part 141. Save as otherwise provided, the provisions of this… Read More »

Section 140 of Finance Act 2018 : Amendment of section 3 of Act 20 of 1953

By | April 1, 2018

Section 140 of Finance Act 2018 [Section 140 of Finance Act 2018 deals with Amendment of section 3 of Act 20 of 1953 and is covered in CHAPTER VIII MISCELLANEOUS] PART IV AMENDMENT TO THE SALARIES AND ALLOWANCES OF OFFICERS OF PARLIAMENT ACT, 1953 Amendment of section 3 of Act 20 of 1953 140. In the Salaries and… Read More »

Section 139 of Finance Act 2018 : Amendment of section 3A

By | April 1, 2018

Section 139 of Finance Act 2018 [Section 139 of Finance Act 2018 deals with Amendment of section 3A and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 3A 139. In section 3A of the principal Act, in clause (b), in sub-clause (ii), for the words “twelve thousand rupees”, the words “twenty thousand rupees” shall be substituted. Finance… Read More »

Section 138 of Finance Act 2018 : Amendment of section 2

By | April 1, 2018

Section 138 of Finance Act 2018 [Section 138 of Finance Act 2018 deals with Amendment of section 2 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 2 138. In section 2 of the principal Act, in sub-section (2), in clause (b), for the words “sixty thousand rupees”, the words “one lakh rupees” shall be substituted. Finance… Read More »

Section 137 of Finance Act 2018 : Amendment of section 1A

By | April 1, 2018

Section 137 of Finance Act 2018 [Section 137 of Finance Act 2018 deals with Amendment of section 1A and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 1A 137. In section 1A of the President’s Emoluments and Pension Act, 1951 (30 of 1951) (hereafter referred to as the principal Act in this Part), for the words “one… Read More »

Section 136 of Finance Act 2018 : Commencement of this Part

By | April 1, 2018

Section 136 of Finance Act 2018 [Section 136 of Finance Act 2018 deals with Commencement of this Part and is covered in CHAPTER VIII MISCELLANEOUS] PART III AMENDMENTS TO THE P RESIDENT’S EMOLUMENTS AND PENSION ACT , 1951 Commencement of this Part 136. Save as otherwise provided, the provisions of this Part shall come into force on the… Read More »

Section 134 of Finance Act 2018 : Insertion of new section and Schedule

By | April 1, 2018

Section 134 of Finance Act 2018 [Section 134 of Finance Act 2018 deals with Insertion of new section and Schedule and is covered in CHAPTER VIII MISCELLANEOUS] Insertion of new section and Schedule 134. After section 15 of the principal Act, the following shall be inserted, namely:— “16. Repeal and savings.—(1) The Government Savings Certificates Act, 1959 (46 of… Read More »

Section 133 of Finance Act 2018 : Amendment of section 15

By | April 1, 2018

Section 133 of Finance Act 2018 [Section 133 of Finance Act 2018 deals with Amendment of section 15 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 15 133. In section 15 of the principal Act, in sub-section (2),— (i) clause (a) shall be omitted; (ii) for clause (b), the following clause shall be substituted, namely:— ”… Read More »

Section 132 of Finance Act 2018 : Insertion of new section 14A

By | April 1, 2018

Section 132 of Finance Act 2018 [Section 132 of Finance Act 2018 deals with Insertion of new section 14A and is covered in CHAPTER VIII MISCELLANEOUS] Insertion of new section 14A 132. After section 14 of the principal Act, the following section shall be inserted, namely:— “14A. Protection against attachment.—The amount standing to the credit of any depositor in… Read More »

Section 131 of Finance Act 2018 : Amendment of section 14

By | April 1, 2018

Section 131 of Finance Act 2018 [Section 131 of Finance Act 2018 deals with Amendment of section 14 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 14 131. In section 14 of the principal Act, for the word “Government”, the words “Central Government” shall be substituted. Finance Act 2018 : Assented by President : Download Print… Read More »

Section 128 of Finance Act 2018 : Insertion of new section 12A

By | April 1, 2018

Section 128 of Finance Act 2018 [Section 128 of Finance Act 2018 deals with Insertion of new section 12A and is covered in CHAPTER VIII MISCELLANEOUS] Insertion of new section 12A 128. After section 12 of the principal Act, the following section shall be inserted, namely:— “12A. Operation of account by differently abled persons.—Any depositor who suffers from physical… Read More »

Section 127 of Finance Act 2018 : Amendment of section 12

By | April 1, 2018

Section 127 of Finance Act 2018 [Section 127 of Finance Act 2018 deals with Amendment of section 12 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 12 127. In section 12 of the principal Act,— (i) for the word “Bank”, the words “Government Savings Bank” shall be substituted; (ii) for the words “any proper person”, the… Read More »

Section 126 of Finance Act 2018 : Amendment of section 10

By | April 1, 2018

Section 126 of Finance Act 2018 [Section 126 of Finance Act 2018 deals with Amendment of section 10 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 10 126. In section 10 of the principal Act,— (i) for the words “or on behalf of, any minor”, the words “or on behalf of, a minor” shall be substituted;… Read More »

Section 186 of Finance Act 2018 : Amendment of section 15JB

By | April 1, 2018

Section 186 of Finance Act 2018 [Section 186 of Finance Act 2018 deals with Amendment of section 15JB and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 15JB 186. In the principal Act, in section 15JB, after sub-section (4), the following sub- section shall be inserted, namely:— “(5) All settlement amounts, excluding the disgorgement amount and legal… Read More »

Section 179 of Finance Act 2018 : Amendment of section 11

By | April 1, 2018

Section 179 of Finance Act 2018 [Section 179 of Finance Act 2018 deals with Amendment of section 11 and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 11 179. In the Securities And Exchange Board of India Act, 1992 (15 of 1992) (hereafter in this Part referred to as the principal Act), in section 11,— (i) after… Read More »

Section 185 of Finance Act 2018 : Amendment of section 15J

By | April 1, 2018

Section 185 of Finance Act 2018 [Section 185 of Finance Act 2018 deals with Amendment of section 15J and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 15J 185. In the principal Act, in section 15J,— (a) for the marginal heading, the following marginal heading shall be substituted, namely:— “Factors to be taken into account while adjudging… Read More »

Section 184 of Finance Act 2018 : Amendment of section 15-I

By | April 1, 2018

Section 184 of Finance Act 2018 [Section 184 of Finance Act 2018 deals with Amendment of section 15-I and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 15-I 184. In the principal Act, in section 15-I, in sub-section (1),— (i) after the figures and letter “15E,”, the figures and letters “15EA, 15EB,” shall be inserted; (ii) for… Read More »

Section 183 of Finance Act 2018 : Amendment of section 15F

By | April 1, 2018

Section 183 of Finance Act 2018 [Section 183 of Finance Act 2018 deals with Amendment of section 15F and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 15F 183. In the principal Act, in section 15F, in clause (b), for the words “he sponsors or carries on any such collective investment scheme including mutual funds”, the words… Read More »

Section 182 of Finance Act 2018 : Insertion of new section 15EA and 15EB

By | April 1, 2018

Section 182 of Finance Act 2018 [Section 182 of Finance Act 2018 deals with Insertion of new section 15EA and 15EB and is covered in CHAPTER VIII MISCELLANEOUS] Insertion of new section 15EA and 15EB 182. In the principal Act, after section 15E, the following sections shall be inserted, namely:— “15EA. Penalty for default in case of alternative investment… Read More »

Section 181 of Finance Act 2018 : Amendment of section 15A

By | April 1, 2018

Section 181 of Finance Act 2018 [Section 181 of Finance Act 2018 deals with Amendment of section 15A and is covered in CHAPTER VIII MISCELLANEOUS] Amendment of section 15A 181. In the principal Act, in section 15A,— (i) in clause (a), after the words “fails to furnish the same”, the words “or who furnishes or files false, incorrect… Read More »