An Act to give effect to the financial proposals of the Central Government for the financial year 2020-2021.

Department Department of Revenue

Administered by. Ministry of Finance, Department of Revenue · Other Acts of 2020

What this Act covers

The Finance Act for 2020. 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. 157 sections.

1. 1Short title and commencement
2. 2Income-tax
3. 3Amendment of Section 2
4. 4Amendment of Section 6
5. 5Amendment of Section 9
6. 6Amendment of Section 9A
7. 7Amendment of Section 10
8. 8Amendment of Section 10A
9. 9Amendment of Section 11
10. 10Amendment of Section 12A
11. 11Amendment of Section 12AA
12. 12Insertion of new section 12AB
13. 13Amendment of Section 17
14. 14Amendment of Section 32AB
15. 15Amendment of Section 33AB
16. 16Amendment of Section 33ABA
17. 17Amendment of Section 35
18. 18Amendment of Section 35AD
19. 19Amendment of Section 35D
20. 20Amendment of Section 35E
21. 21Amendment of Section 43
22. 22Amendment of Section 43CA
23. 23Amendment of Section 44AB
24. 24Amendment of Section 44DA
25. 25Amendment of Section 49
26. 26Amendment of Section 50B
27. 27Amendment of Section 50C
28. 28Amendment of Section 55
29. 29Amendment of Section 56
30. 30Amendment of Section 57
31. 31Substitution of new section for section 72AA
32. 32Amendment of Section 80EEA
33. 33Amendment of Section 80G
34. 34Amendment of Section 80GGA
35. 35Amendment of Section 80-IA
36. 36Amendment of Section 80-IAC
37. 37Amendment of Section 80-IB
38. 38Amendment of Section 80-IBA
39. 39Amendment of Section 80JJAA
40. 40Insertion of New Section 80M
41. 41Amendment of Section 90
42. 42Amendment of Section 90A
43. 43Amendment of Section 92CB
44. 44Amendment of Section 92CC
45. 45Amendment of Section 92F
46. 46Amendment of Section 94B
47. 47Amendment of Section 115A
48. 48Amendment of Section 115AC
49. 49Amendment of Section 115ACA
50. 50Amendment of Section 115AD
51. 51Amendment of Section 115BAA
52. 52Amendment of Section 115BAB
53. 53Insertion of new sections 115BAC and 115BAD
54. 54Amendment of Section 115BBDA
55. 55Amendment of Section 115C
56. 56Amendment of Section 115JB
57. 57Amendment of Section 115JC
58. 58Amendment of Section 115JD
59. 59Amendment of Section 115-O
60. 60Amendment of Section 115R
61. 61Amendment of Section 115TD
62. 62Amendment of Section 115UA
63. 63Amendment of Section 115VW
64. 64Insertion of new section 119A
65. 65Amendment of Section 133A
66. 66Amendment of Section 139
67. 67Amendment of Section 140
68. 68Amendment of Section 140A
69. 69Amendment of Section 143
70. 70Amendment of Section 144C
71. 71Amendment of Section 156
72. 72Amendment of Section 191
73. 73Amendment of Section 192
74. 74Amendment of Section 194
75. 75Amendment of Section 194A
76. 76Amendment of Section 194C
77. 77Amendment of Section 194H
78. 78Amendment of Section 194-I
79. 79Amendment of Section 194J
80. 80Insertion of new section 194K
81. 81Amendment of Section 194LBA
82. 82Amendment of Section 194LC
83. 83Amendment of Section 194LD
84. 84Substitution of new section for section 194N
85. 85Insertion of new section 194-O
86. 86Amendment of Section 195
87. 87Amendment of Section 196A
88. 88Amendment of Section 196C
89. 89Amendment of Section 196D
90. 90Amendment of Section 197
91. 91Amendment of Section 197A
92. 92Omission of section 203AA
93. 93Amendment of Section 204
94. 94Amendment of Section 206AA
95. 95Amendment of Section 206C
96. 96Insertion of new section 234G
97. 97Amendment of Section 250
98. 98Amendment of Section 253
99. 99Amendment of Section 254
100. 100Insertion of new section 271AAD
101. 101Insertion of new section 271K
102. 102Amendment of Section 274
103. 103Insertion of new section 285BB
104. 104Amendment of Section 288
105. 105Amendment of Section 295
106. 106Amendment of First Schedule
107. 107Amendment of Section 11
108. 108Amendment of Section 28
109. 109Amendment of Section 28AAA
110. 110Insertion of New Chapter VAA
111. 111Amendment of heading of chapter VIIA
112. 112Insertion of new section 51B
113. 113Amendment of Section 111
114. 114Amendment of Section 156
115. 115Amendment of Section 157
116. 116Substitution of new section for section 8B
117. 117Amendment of First Schedule
118. 118Amendment of Section 2
119. 119Amendment of Section 10
120. 120Amendment of Section 16
121. 121Amendment of Section 29
122. 122Amendment of Section 30
123. 123Amendment of Section 31
124. 124Amendment of Section 51
125. 125Amendment of Section 109
126. 126Amendment of Section 122
127. 127Amendment of Section 132
128. 128Amendment of Section 140
129. 129Amendment of Section 168
130. 130Amendment of Section 172
131. 131Amendment to Schedule II
132. 132Restrospective exemption from, or levy or collection of, central tax in certain cases
133. 133Restrospective effect to notification issued under clause (ii) of proviso to sub-section (3) of section 54 of Central Goods and Service Tax Act
134. 134Amendment of Section 25
135. 135Restrospective exemption from, or levy or collection of, integrated tax in certain cases
136. 136Amendment of Section 1
137. 137Amendment of Section 2
138. 138Amendment of Section 26
139. 139Restrospective exemption from, or levy or collection of, Union territory tax in certain cases
140. 140Amendment of Section 14
141. 141Health Cess on imported medical devices
142. 142Commencement of this part
143. 143Amendment of Section 9A
144. 144Insertion of new section 73B
145. 145Amendment of Act 45 of 1988
146. 146Substitution of new schedule for seventh schedule to Act 14 of 2001
147. 147Amendment of Eighth schedule to Act 20 of 2002
148. 148Amendment of Section 116
149. 149Amendment of Section 117
150. 150Amendment of Section 118
151. 151Amendment of Sections 119, 120 and 132A
152. 152Commencement of this part
153. 153Amendment of Act 28 of 2016
154. 154Amendment of Sixth Schedule to Act 13 of 2018
155. Second ScheduleSecond Schedule
156. Fourth ScheduleFourth Schedule
157. Fifth ScheduleFifth Schedule

Related Acts

• The Direct Tax Vivad se Vishwas Act, 202012 sections
• The Bilateral Netting of Qualified Financial Contracts Act, 202011 sections
• The Finance Act, 2019 (No. 2)217 sections
• The Finance Act, 2021180 sections
• The National Bank for Financing Infrastructure and Development Act, 202148 sections
• The Banning of Unregulated Deposit Schemes Act, 201944 sections
• The Tribunals Reforms Act, 202135 sections
• The International Financial Services Centres Authority Act, 201934 sections

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 157 sections of this Act has its own page. This page is not a substitute for legal advice.