Section 27 of Finance Act 2018 [Section 27 of Finance Act 2018 deals with Amendment of section 80DDB. and is covered in CHAPTER III DIRECT TAXES] Amendment of section 80DDB. 27. In section 80DDB of the Income-tax Act, with effect from the 1st day of April, 2019,— (a) in the third proviso, for the words “sixty thousand rupees”,… Read More »
Section 26 of Finance Act 2018 [Section 26 of Finance Act 2018 deals with Amendment of section 80D. and is covered in CHAPTER III DIRECT TAXES] Amendment of section 80D. 26. In section 80D of the Income-tax Act, with effect from the 1st day of April, 2019,— (A) in sub-section (2),— (i) for the words “thirty thousand rupees”… Read More »
Section 25 of Finance Act 2018 [Section 25 of Finance Act 2018 deals with Substitution of new section for section 80AC. and is covered in CHAPTER III DIRECT TAXES] Substitution of new section for section 80AC. 25. For section 80AC of the Income-tax Act, the following section shall be substituted, namely:— ’80AC. Deduction not to be allowed unless return… Read More »
Section 55 of Finance Act 2018 [Section 55 of Finance Act 2018 deals with Amendment of section 286. and is covered in CHAPTER III DIRECT TAXES] Amendment of section 286. 55. In section 286 of the Income-tax Act,— (a) in sub-section (2), for the words, brackets and figures “on or before the due date specified under sub-section (1)… Read More »
Section 54 of Finance Act 2018 [Section 54 of Finance Act 2018 deals with Amendment of section 276CC. and is covered in CHAPTER III DIRECT TAXES] Amendment of section 276CC. 54. In section 276CC of the Income-tax Act, in the proviso, in clause (ii), in sub-clause (b), for the words “tax payable by him”, the words “tax payable… Read More »
Section 53 of Finance Act 2018 [Section 53 of Finance Act 2018 deals with Amendment of section 271FA. and is covered in CHAPTER III DIRECT TAXES] Amendment of section 271FA. 53. In section 271FA of the Income-tax Act,— (a) for the words “one hundred rupees”, the words “five hundred rupees” shall be substituted; (b) for the words “five… Read More »
Section 52 of Finance Act 2018 [Section 52 of Finance Act 2018 deals with Amendment of section 253. and is covered in CHAPTER III DIRECT TAXES] Amendment of section 253. 52. In section 253 of the Income-tax Act, in sub-section (1), in clause (a), after the word, figures and letter “section 271A”, the word, figures and letter “,… Read More »
Section 51 of Finance Act 2018 [Section 51 of Finance Act 2018 deals with Amendment of section 245Q. and is covered in CHAPTER III DIRECT TAXES] Amendment of section 245Q. 51. In section 245Q of the Income-tax Act, in sub-section (1), the words, letter and figures “or under Chapter V of the Customs Act, 1962 (52 of 1962)”… Read More »
Section 50 of Finance Act 2018 [Section 50 of Finance Act 2018 deals with Amendment of section 245-O and is covered in CHAPTER III DIRECT TAXES] Amendment of section 245-O 50. In section 245-O of the Income-tax Act,— (i) in sub-section (1), the following proviso shall be inserted, namely:— “Provided that the Authority shall cease to act as an… Read More »
Section 49 of Finance Act 2018 [Section 49 of Finance Act 2018 deals with Amendment of section 194A. and is covered in CHAPTER III DIRECT TAXES] Amendment of section 194A. 49. In section 194A of the Income-tax Act, in sub-section (3), in clause (i), after the second proviso, the following shall be inserted, namely:— ‘Provided also that in case… Read More »