Amendments at a Glance
Section/Schedule | Particulars/Paragraph number |
| Finance Act, 2011 |
First Schedule | Rate Structure |
| Income-tax Act, 1961 |
2(15) | Definition of “charitable purpose |
10(45) | Exemption of certain perquisites of chairman and members of Union Public Service Commission |
10(46), 139(4C)(g) | Provision relating to exemption of a specified income of certain bodies or authorities or trust or board or commission |
10(47), 139(4C)(h), 115A, 194LB | Infrastructure Debt Fund |
35(2AA) | Weighted deduction for contribution made for approved scientific research programme |
35AD | Investment-linked deduction in respect of specified business |
80CCE, 36(1),40A(9) | Tax benefits for New Pension System (NPS) |
80CCF | Deduction for investment in long-term infrastructure bonds |
80-IA(4)(iv) | Extension of sunset clause for tax holiday for power sector |
80-IB(9) | Deduction in respect of pr |
92C, 92CA, 92CA(7), 139 | Rationalization of provision relating to Transfer Pricing |
94A | Tool box of counter measures in respect of transactions with persons located in a Non-co-operative jurisdiction |
115BBD | Taxation of certain foreign dividends at a reduced rate |
115R(2) | Tax on Distributed Income to unit holders |
115JB | Minimum Alternate Tax |
115JB(6), 115-0(6), 10(34) | Provisions relating to Minimum Alternate Tax (MAT) and Dividend Distribution Tax (DDT) in case of Special Economic Zones |
115JC, 115JD, 115JE, 115JF | Alternate Minimum Tax for certain Limited Liability Partnerships |
131,133 | Collection of information on requests received from tax authorities outside India |
139, 296 | Exemption to a class or classes of persons from furnishing a return of income |
143 | Centralized Processing of Returns |
153,153B | Extension of time-limit for assessments in case of exchange of information |
245C(1) | Modification in the condition for filing an application before the Settlement Commission |
245D(4) | Power of the Settlement Commission to rectify its orders |
282B | Omission of the requirement of quoting of Document Identification Number |
285 | Reporting requirement by certain non-residents |
Fourth Schedule | Recognition to Provident Funds – Extension of time-limit for obtaining Exemption from EPFO |
| Wealth-tax Act, 1957 |
22D | Procedure on receipt of an application for settlement of cases |
| Special Economic Zones Act, 2005 |
Second Schedule | Modifications to the Income-tax Act |
