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Act32
Enacted 1994

The Finance Act, 1994

In force 58 sections Finance

An Act to give effect to the financial proposals of the Central Government for the financial year 1994-1995.

Act 32 of 1994 Enacted 13 May 1994 Department Department of Revenue

Administered by. Ministry of Finance, Department of Revenue · Other Acts of 1994

What this Act covers

The Finance Act for 1994. Its First Schedule carries the rates of income-tax for the year; the rest amends the Income-tax Act and the other fiscal statutes. The rate of tax for a year is fixed here and not in the Income-tax Act.

Sections

Type to filter. 58 sections.

  1. 1Short title and commencement
  2. 2Income-tax
  3. 3Amendment of section 2
  4. 4Insertion of new section 5A
  5. 5Amendment of section 6
  6. 6Amendment of section 10
  7. 7Amendment of section 10B
  8. 8Amendment of section 12A
  9. 9Amendment of section 13
  10. 10Amendment of section 17
  11. 11Amendment of section 24
  12. 12Amendment of section 33AB
  13. 13Amendment et section 35
  14. 15Amendment of section 37
  15. 16Insertion of new sections 44AD and 44AE
  16. 17Amendment of section 44D
  17. 18Amendment of section 55
  18. 19Amendment of section 57
  19. 20Amendment of section 64
  20. 21Amendment of section 71
  21. 22Substitution of new section for section 71A
  22. 23Insertion of new section 80E
  23. 24Amendment of section 80G
  24. 25Amendment of section 80HHD
  25. 26Amendment of section 80HHE
  26. 27Amendment of section 80-IA
  27. 28Omission of section 80V
  28. 29Amendment of section 88
  29. 30Amendment of section 88B
  30. 31Amendment of section 112
  31. 32Amendment of section 115A
  32. 33Amendment of section 115K
  33. 34Amendment of section 115N
  34. 35Amendment of section 116
  35. 36Amendment of section 139
  36. 37Amendment of section 143
  37. 38Amendment of section 154
  38. 39Amendment of section 194C
  39. 40Insertion of new section 194-I
  40. 41Amendment of section 196A
  41. 42Amendment of section 197
  42. 43Amendment of sections 198 to 200 and 202 to 205
  43. 44Amendment of section 211
  44. 45Amendment of section 234C
  45. 46Amendment of section 246
  46. 47Amendment of section 269
  47. 48Amendment of section 273A
  48. 49Amendment of section 296
  49. 50Consequential amendments
  50. 51Amendment of section 2
  51. 52Amendment of section 4
  52. 53Amendment of section 46
  53. 54Amendment of section 2
  54. 56Amendment of section 3 of Act 45 of 1974
  55. 57Amendment of section 4
  56. 58Amendment of section 6
  57. 59Amendment of section 17
  58. First ScheduleFirst Schedule

Rules made under this Act

40 sets of Rules. India Code publishes Rules as a record and a document rather than as text, so these are indexed here and not reproduced. All Rules.

  • 01/2023-Service Tax — Appointment of Additional Assistant Director as Central Excise Officer of the rank of Superintendent.2023
  • 01/2022-Service Tax — Exempting Service tax payable on the “light-dues” collected by the Directorate General of Lighthouses and Lightships under the Lighthouse Act, 1927 in the period commencing on and from the 1st day of July 2012 and ending with the 30th day of June 20172022
  • 01/2019-Service Tax — Exempting services provided by project implementation agencies under the DDUGKY for the period commencing from the 1st of July,2012 and ending with the 29th of February ,2016 .2019
  • 01/2018-Service Tax — Exempting the payment of Service Tax on services by way of granting of right of way by local authorities for the period commencing from the 1st of July,2012 and ending with the 30th of June,20172018
  • 01/2017-Service Tax — Seeks to amend notification No. 25/2012-ST dated 20.06.2012 so as to (i) withdraw the exemption from service tax for services provided or agreed to be provided by a person located in non-taxable territory to a person located in non-taxable territory by way of transportation of goods by a vessel from a place outside India up to the customs station of clearance in India; (ii) exempt services provided by a business facilitator or a business correspondent to a banking company with respect to accounts in its rural area branch.2017
  • 02/2017-Service Tax — Seeks to amend Service Tax Rules, 1994 so as to, (i) exclude such persons from the definition of aggregator who enable a potential customer to connect with persons providing services by way of renting of hotels, inns, guest houses, clubs, campsites or oth2017
  • 03/2017-Service Tax — Seeks to amend notification No. 30/2012-ST dated 20.06.2012 so as to specify the person complying with the sections 29, 30 or 38 read with section 148 of the Customs Act, 1962 (52 of 1962) as the person liable for paying service tax in case of services pr2017
  • 04/2017-Service Tax — Seeks to amend notification No. 26/2012-ST dated 20.06.2012 so as to rationalize the abatement for tour operator services2017
  • 05/2017-Service Tax — Seeks to amend notification No. 25/2012-ST dated 20.06.2012 so as to withdraw the exemption from service tax for online information and database access or retrieval services provided by a person located in non-taxable territory to an entity in India regis2017
  • 06/2017-Service Tax — Seeks to amend Service Tax Rules, 1994 so that in case of online information and database access or retrieval services provided or agreed to be provided by any person located in a non-taxable territory and received by non-assesse online recipient, the ser2017
  • 07/2017-Service Tax — Seeks to amend notification No. 25/2012-Service Tax, dated 20th June 2012, so as to amend certain existing entries granting exemption on specified services and inserting new entries for granting exemption from service tax on specified services.2017
  • 08/2017-Service Tax — Services by the operators of Common Effluent Treatment Plant by way of treatment of effluent from the 1st of July 2012 to 31st of March 20152017
  • 09/2017-Service Tax — Service Tax payable by way of admission to a museum2017
  • 10/2017-Service Tax — Seeks to amend Notification No 25/2012-Service Tax, dated 20.6.2012.2017
  • 11/2017-Service Tax — Regarding investment of powers2017
  • 12/2017-Service Tax — Service Tax (Advance Rulings) Amendment, Rules 20172017
  • 13/2017-Service Tax — Service Tax (Settlement of Cases) Amendment Rules, 20172017
  • 14/2017-Service Tax — Seeks to amend Point of Taxation Rules, 2011 with effect from 22nd January, 2017 so as to provide the point of taxation of services provided by a foreign shipping line to foreign charterer w.r.t. goods destined for India as the date of bill of lading of g2017
  • 15/2017-Service Tax — Seeks to amend notification No. 30/2012-ST dated 20.06.2012 so as to specify the importer as defined under clause (26) of section 2 of the Customs Act, 1962 (52 of 1962) of goods as the person liable for paying service tax in case of services provided or2017
  • 16/2017-Service Tax — Seeks to amend Service Tax Rules, 1994 so as to,(i) Specify the importer as defined under clause (26) of section 2 of the Customs Act, 1962 (52 of 1962) of goods as the person liable for paying service tax in case of services provided or agreed to be prov2017
  • 17/2017-Service Tax — Seeks to amend notification No. 25/2012-ST dated 20.06.2012 so as to exempt life insurance services under 'Pradhan Mantri Vaya Vandana Yojana'.2017
  • 18/2017-Service Tax — Seeks to amend the Rule 7 and & 7B of the Service Tax Rules 1994 so that the return for the period from 01.04.2017 to 30.06.2017 shall be submitted by 15.08.20172017
  • finance_act_20172017
  • 01/2016-ST — Seeks to amend notification No. 41/2012- ST, dated the 29th June, 2012 so as to allow refund of service tax on services used beyond the factory or any other place or premises of production or manufacture of the said goods for the export of the said goods2016
  • 02/2016-ST — Seeks to amend notification No. 12/2013- ST, dated the 1st July, 2013 so as to allow refund of Swachh Bharat Cess paid on specified services used in an SEZ.2016
  • 03/2016-ST — Seeks to amend notification No. 39/2012- ST, dated the 20th June, 2012 so as to provide for rebate of Swachh Bharat Cess paid on all services, used in providing services exported in terms of rule 6A of the Service Tax Rules.2016
  • 04/2016-ST — Service Tax and Central Excise (Furnishing of Annual Information Return) Rules, 20162016
  • 05/2016-ST — Seeks to amend notification no. 22/2015-ST dated 6.11.2015.2016
  • 06/2016-Service Tax — Seeks to appoint 1th day of April, 2016 as the date with effect from which the provisions of Section 109(1) as contained in the Finance Act, 2015 shall come into effect.2016
  • 07/2016-Service Tax — Seeks to amend Notification No. 25/2012 by inserting new entry for granting exemption from service tax for the services provided by Government or a local authority to a business entity having turnover upto rupees of ten lakh in the preceding financial yea2016
  • 08/2016-Service Tax — Seeks to amend notification No. 26/2012-Service Tax, dated 20th June 2012, so as to make necessary amendments in the specified entries prescribing taxable portion and the conditions for availing the exemption therein2016
  • 09/2016-Service Tax — Seeks to amend notification No. 25/2012-Service Tax, dated 20th June 2012, so as to amend certain existing entries granting exemption on specified services and inserting new entries for granting exemption from service tax on specified services2016
  • 10/2016-Service Tax — Seeks to amend Point of Taxation Rules, 2011 so as to insert clarificatory Explanations2016
  • 11/2016-Service Tax — Seeks to exempt services in relation to Information Technology Software recorded on a media bearing RSP, provided Central Excise Duty has been paid2016
  • 12/2016-Service Tax — Seeks to amend notification No. 32/2012-Service Tax dated 20th June, 2012, so as to exempt services provided by the bio-incubators approved by the Biotechnology Industry Research Assistance Council, under Department of Biotechnology, Government of India2016
  • 13/2016-Service Tax — Seeks to prescribe interest rate under section 75 of the Finance Act, 19942016
  • 14/2016-Service Tax — Seeks to prescribe interest rate under section 73B of the Finance Act, 19942016
  • 15/2016-Service Tax — Seeks to bring into effect provisions of clause (h) of section 107 of the Finance Act, 20152016
  • 16/2016-Service Tax — Seeks to bring into effect certain provisions of notification No. 07/2015-ST dated 1st March, 20152016
  • 17/2016-Service Tax — Seeks to bring into effect certain provisions of notification No. 05/2015-ST dated 1st March, 20152016

Related Acts

Provenance. 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.

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Every one of the 58 sections of this Act has its own page. This page is not a substitute for legal advice.