# The Finance Act, 2018, Section 142: Amendment of section 3

- Act: The Finance Act, 2018 (Act 13 of 2018)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2018/section/142/

## 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).".

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