{"act":{"id":"finance-act-2018","short_title":"The Finance Act, 2018","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2018-2019.","act_number":"13","act_year":2018,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":227,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2018/"},"unit":"section","section":{"number":"142","heading":"Amendment of section 3","text":"Amendment of section 3 142. In the Salary, Allowances and Pension of Members of Parliament Act, 1954 (30 of 1954) (hereafter referred to as the principal Act in this Part), section 3 shall be numbered as sub-section (1) thereof,— (i) | in sub-section (1) as so renumbered, for the words \"fifty thousand rupees\", the words \"one lakh rupees\" shall be substituted; (ii) | after sub-section (1) as so renumbered, the following sub-section shall be inserted, namely:— \"(2) The salary and daily allowance of members shall be increased after every five years commencing from 1st April, 2023 on the basis of Cost Inflation Index provided under clause (v) of Explanation to section 48 of the Income-tax Act, 1961 (43 of 1961).\".","html":"<p><b>Amendment of section 3</b></p><p><b>142. </b>In the Salary, Allowances and Pension of Members of Parliament Act, 1954 (30 of 1954) (hereafter referred to as the principal Act in this Part), section 3 shall be numbered as sub-section (1) thereof,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in sub-section (1) as so renumbered, for the words \"fifty thousand rupees\", the words \"one lakh rupees\" shall be substituted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>after sub-section (1) as so renumbered, the following sub-section shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"(<i>2</i>) The salary and daily allowance of members shall be increased after every five years commencing from 1st April, 2023 on the basis of Cost Inflation Index provided under clause (<i>v</i>) of <i>Explanation </i>to section 48 of the Income-tax Act, 1961 (43 of 1961).\".</td></tr></table></div>","words":120,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2018/section/142/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}