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TypeBare Act JurisdictionCentral Government

Finance Act, 2001

Complete Act - all sections

~9 min read
https://sooperkanoon.com/act/133550

Bare act · Research

About this act

Finance Act, 2001 (2001) is Central state legislation published on SooperKanoon in full. Use this page to read the bare act and jump to judgments that cite it.

Research copy - verify against official government publications before filing or court use.

Act Text

Preamble1 - Finance Act, 2001
Section1 - SHORT TITLE AND COMMENCEMENT
Chapter1 - INCOME-TAX
Section3 - AMENDMENT OF SECTION 2 InS.2 of the Income-tax Act-,"
Section4 - AMENDMENT OF SECTION 9 InS.9 of the Income-tax Act-, in sub-section
Section5 - AMENDMENT OF SECTION 10 InS.10 of the Income-tax Act-,"
Section6 - AMENDMENT OF SECTION 10A InS.10A of the Income-tax Act-,"
Section7 - AMENDMENT OF SECTION 10B Insection 10B of the Income-tax Act-,
Section8 - INSERTION OF NEW SECTION 10BB AfterS.10B of the Income-tax Act-, the following section shall be inserted and shall be
Section9 - AMENDMENT OF SECTION 11 InS.11 of the Income-tax Act-, in sub-section
Section10 - AMENDMENT OF SECTION 12A InS.12A of the Income-tax Act-, after clause
Section11 - INSERTION OF NEW SECTION 14A AfterS.14 of the Income-tax Act-, the following section shall be inserted and shall be
Section12 - AMENDMENT OF SECTION 16 InS.16 of the Income-tax Act-, for clauses
Section13 - AMENDMENT OF SECTION 17 InS.17 of the Income-tax Act-,"
Section14 - SUBSTITUTION OF NEW SECTION FOR SECTION 23 ForS.23 of the Income-tax Act-, the following section shall be substituted
Section15 - SUBSTITUTION OF NEW SECTION FOR SECTION 24 ForS.24 of the Income-tax Act-, the following section shall be substi- tuted
Section16 - AMENDMENT OF SECTION 25 InS.25 of the Income-tax Act-, the words "annual charge or" shall be omitted with effect from
Section17 - AMENDMENT OF SECTION 25A InS.25A of the Income-tax Act-, with effect from the 1st day of April, 2002"
Section18 - INSERTION OF NEW SECTION 25AA AfterS.25A of the Income-tax Act-, the following section shall be inserted with effect
Section19 - AMENDMENT OF SECTION 25B InS.25B of the Income-tax Act-, for the words "a sum equal to one- fourth of such amount for
Section20 - AMENDMENT OF SECTION 27 InS.27 of the Income-tax Act-, clauses
Section21 - AMENDMENT OF SECTION 32 InS.32 of the Income-tax Act-, with effect from the 1st day of April, 2002,"
Section22 - AMENDMENT OF SECTION 33AB InS.33AB of the Income-tax Act-, in sub-section
Section23 - AMENDMENT OF SECTION 35 InS.35 of the Income-tax Act-, with effect from the 1st day of April, 2002"
Section24 - INSERTION OF NEW SECTION 35DDA AfterS.35DD of the Income-tax Act-, the following section shall be inserted, namely:"
Section25 - AMENDMENT OF SECTION 36 InS.36-, in sub-section
Section26 - AMENDMENT OF SECTION 43 InS.43 of the Income-tax Act-, with effect from the 1st day of April, 2002"
Section27 - AMENDMENT OF SECTION 43B InS.43B of the Income-tax Act-, with effect from the 1st day of April, 2002"
Section28 - AMENDMENT OF SECTION 44AB InS.44AB of the Income-tax Act-,"
Section29 - AMENDMENT OF SECTION 47 InS.47 of the Income-tax Act-,"
Section30 - AMENDMENT OF SECTION 49 InS.49 of the Income-tax Act-, after sub-section
Section31 - AMENDMENT OF SECTION 54EC InS.54EC of the Income-tax Act-, in the Explanation occurring at the end, for clause
Section32 - INSERTION OF NEW SECTION 54ED AfterS.54EC of the Income-tax Act-, the following section shall be inserted with effect
Section33 - AMENDMENT OF SECTION 54H Insection 54H of the Income-tax Act-, for the figures and letters "54EA, 54EB", the figures
Section34 - AMENDMENT OF SECTION 55 Insection 55 of the Income-tax Act-, in sub-section
Section35 - AMENDMENT OF SECTION 72A Insection 72A of the Income-tax Act-, in sub-section
Section36 - AMENDMENT OF SECTION 80CCC Insection 80CCC of the Income-tax Act-, in sub-section
Section37 - AMENDMENT OF SECTION 80D Insection 80D of the Income-tax Act-, in sub-section
Section38 - AMENDMENT OF SECTION 80DD Insection 80DD of the Income-tax Act-, in sub-section
Section39 - AMENDMENT OF SECTION 80G Insection 80G of the Income-tax Act-, with effect from the 1st day of April, 2002"
Section40 - AMENDMENT OF SECTION 80GG Insection 80GG of the Income-tax Act-, in the proviso, in clause
Section41 - AMENDMENT OF SECTION 80HHC Insection 80HHC of the Income-tax Act-, in sub-section
Section42 - AMENDMENT OF SECTION 80HHE Insection 80HHE of the Income-tax Act-,"
Section43 - AMENDMENT OF SECTION 80HHF Insection 80HHF of the Income-tax Act-, in sub-section
Section44 - AMENDMENT OF SECTION 80-IA Insection 80-IA of the Income-tax Act-,"
Section45 - AMENDMENT OF SECTION 80-IB Insection 80IB of the Income-tax Act-, with effect from the 1st day of April, 2002"
Section46 - AMENDMENT OF SECTION 80L Insection 80L of the Income-tax Act-, in sub-section
Section47 - AMENDMENT OF SECTION 88 Insection 88 of the Income-tax Act-, with effect from the 1st day of April, 2002"
Section48 - AMENDMENT OF SECTION 90 Insection 90 of the Income-tax Act-, the following Explanation shall be inserted and shall be
Section49 - SUBSTITUTION OF NEW SECTIONS FOR SECTION 92 For section 92 of the Income-tax Act, the following sections shall be
Section50 - AMENDMENT OF SECTION 94 Insection 94 of the Income-tax Act-, with effect from the 1st day of April, 2002"
Section51 - AMENDMENT OF SECTION 115AB Insection 115AB of the Income-tax Act-, in the Explanation, in clause
Section52 - SUBSTITUTION OF NEW SECTION FOR SECTION 115 AC Forsection 115AC of the Income-tax Act-, the following section shall be
Section53 - AMENDMENT OF SECTION 115ACA Insection 115ACA of the Income-tax Act-, for sub-section
Section54 - AMENDMENT OF SECTION 115BB Insection 115BB of the Income-tax Act-, in clause
Section55 - AMENDMENT OF SECTION 115O Insection 115O of the Income-tax Act-, in sub-section
Section56 - AMENDMENT OF SECTION 115P Insection 115P of the Income-tax Act-, for the words "one and one-half per cent", the words
Section57 - AMENDMENT OF SECTION 115R Insection 115R of the Income-tax Act-, in sub-sections
Section58 - AMENDMENT OF SECTION 115S Insection 115S of the Income-tax Act-, for the words "one and one-half percent", the words
Section59 - AMENDMENT OF SECTION 139 Insection 139 of the Income-tax Act-, for sub-section
Section60 - AMENDMENT OF SECTION 139A Insection 139A of the Income-tax Act-, with effect from the 1st day of June, 2001,"
Section61 - AMENDMENT OF SECTION 140A Insection 140A of the Income-tax Act-, after sub-section
Section62 - AMENDMENT OF SECTION 143 Insection 143 of the Income-tax Act-, in sub-section
Section63 - AMENDMENT OF SECTION 149 Insection 149 of the Income-tax Act-, in sub-section
Section64 - AMENDMENT OF SECTION 153 Insection 153 of the Income-tax Act-, with effect from the 1st day of June, 2001"
Section65 - AMENDMENT OF SECTION 154 Insection 154 of the Income-tax Act-, after sub-section
Section66 - AMENDMENT OF SECTION 158B Insection 158B of the Income-tax Act-, for clause
Section67 - AMENDMENT OF SECTION 158BFA Insection 158BFA of the Income-tax Act-, in sub-section
Section68 - AMENDMENT OF SECTION 192 Insection 192 of the Income-tax Act-, after sub-section
Section69 - AMENDMENT OF SECTION 194A Insection 194A of the Income-tax Act-, in sub-section
Section70 - AMENDMENT OF SECTION 194B Insection 194B of the Income-tax Act-, after the words "crossword puzzle", the words "or card
Section71 - INSERTION OF NEW SECTION 194H Aftersection 194G of the Income-tax Act-, the following section shall be inserted with
Section72 - AMENDMENT OF SECTION 196C Insection 196C of the Income-tax Act-, for the words "bonds or shares" at both the places
Section73 - AMENDMENT OF SECTION 197 Insection 197 of the Income-tax Act-, in sub-section
Section74 - AMENDMENT OF SECTION 201 Insection 201 of the Income-tax Act-,"
Section75 - AMENDMENT OF SECTION 206C Insection 206C of the Income-tax Act-, in sub-section
Section76 - AMENDMENT OF SECTION 220 Insection 220 of the Income-tax Act-, in sub-section
Section77 - OMISSION OF SECTION 230A Section 230A of the Income-tax Act-shall be omitted with effect from the 1st day of June, 2001
Section78 - AMENDMENT OF SECTION 234A Insection 234A of the Income-tax Act-,"
Section79 - AMENDMENT OF SECTION 234B Insection 234B of the Income-tax Act-,"
Section80 - AMENDMENT OF SECTION 234C Insection 234C of the Income-tax Act-, in sub-section
Section81 - OMISSION OF SECTION 241 Section 241 of the Income-tax Act-shall be omitted with effect from the 1st day of June, 2001
Section82 - AMENDMENT OF SECTION 244A Insection 244A of the Income-tax Act-, in sub-section
Section83 - AMENDMENT OF SECTION 251 Insection 251 of the Income-tax Act-, in sub-section
Section84 - AMENDMENT OF SECTION 254 Insection 254 of the Income-tax Act-, in sub-section
Section85 - AMENDMENT OF SECTION 264 Insection 264 of the Income-tax Act-, in sub-section
Section86 - AMENDMENT OF SECTION 271 Insection 271 of the Income-tax Act-, in sub-section
Section87 - AMENDMENT OF SECTION 271A Insection 271A of the Income-tax Act-, for the words "a sum which shall not be less than two
Section88 - INSERTION OF NEW SECTION 271AA Aftersection 271A of the Income-tax Act-, the following section shall be inserted with
Section89 - INSERTION OF NEW SECTION 271BA Aftersection 271B of the Income-tax Act-, the following section shall be inserted with
Section90 - AMENDMENT OF SECTION 271F Insection 271F of the Income-tax Act-, with effect from the 1st day of June, 2001,"
Section91 - INSERTION OF NEW SECTION 271G Aftersection 271F of the Income-tax Act-, the following section shall be inserted with
Section92 - AMENDMENT OF SECTION 272A Insection 272A of the Income-tax Act-,"
Section93 - AMENDMENT OF SECTION 272BB Insection 272BB of the Income-tax Act-, in sub-section
Section94 - AMENDMENT OF SECTION 273B Insection 273B of the Income-tax Act-, with effect from the 1 st day of April, 2002"
Section95 - AMENDMENT OF SECOND SCHEDULE In the Second Schedule to the Income-tax Act, in rule 68A, in sub-rule
Section96 - AMENDMENT OF SECTION 17 Insection 17 of the Wealth-tax Act, 1957
Section97 - AMENDMENT OF SECTION 17A Insection 17A of the Wealth-tax Act-, with effect from the 1st day of June, 2001,"
Section98 - AMENDMENT OF SECTION 17B Insection 17B of the Wealth-tax Act-, in sub-sections
Section99 - AMENDMENT OF SECTION 31 Insection 31 of the Wealth-tax Act-, in sub-section
Section100 - AMENDMENT OF SECTION 34A - Insection 34A of the Wealth-tax Act-, with effect from the 1st day of June, 2001"
Section101 - AMENDMENT OF SECTION 14 OF ACT 35 OF 1987 Insection 14 of the Expenditure-tax Act, 1987-, for the words "one and one
Section102 - AMENDMENT OF SECTION 27-A -In theCustoms Act, 1962
Section103 - AMENDMENT OF SECTION 28 -InSection 28 of the Customs Act-, after sub- section
Section104 - AMENDMENT OF SECTION 28-AA -Section 28-AA of the Customs Act-shall be renumbered as sub-section
Section105 - AMENDMENT OF SECTION 28-AB -InSection 28-AB of the Customs Act-,
Section106 - AMENDMENT OF SECTION 61 -InSection 61 of the Customs Act-, in sub-section
Section107 - AMENDMENT OF SECTION 112 -InSection 112 of the Customs Act-,
Section108 - AMENDMENT OF SECTION 114 -InSection 114 of the Customs Act-,
Section109 - AMENDMENT OF SECTION 128. -InSection 128 of the Customs Act-, in sub- section
Section110 - AMENDMENT OF SECTION 128A. -InSection 128-A of the Customs Act-,
Section111 - AMENDMENT OF SECTION 129D. -InSection 129-D of the Customs Act-, in sub- section
Section112 - AMENDMENT OF SECTION 129-E. -InSection 129-E of the Customs Act-, after the proviso, the following proviso shall be
Section113 - INSERTION OF NEW SECTION 159-A. -AfterSection 159 of the Customs Act-, the following section shall be inserted and
Section114 - VALIDATION OF CERTAIN ACTION TAKEN. -Any action taken or anything done or omitted to be done or purported to have
Section115 - AMENDMENT OF NOTIFICATIONS ISSUED UNDER SECTION 25 OF THE CUSTOMS ACT
Section116 - AMENDMENT OF SECTION 3. -In theCustoms Tariff Act, 1975
Section117 - AMENDMENT OF SECTION 8B -InSection 8-B of the Customs Tariff Act,
Section118 - AMENDMENT OF SECTION 9A. -InSection 9-A of the Customs Tariff Act, after sub- section
Section119 - AMENDMENT OF FIRST SCHEDULE. -In theCustoms Tariff Act, the First Schedule shall,
Section120 - AMENDMENT OF SECTION 3. -In theCentral Excise Act, 1944
Section121 - OMISSION OF SECTION 3A. -Section 3-A of the Central Excise Act-shall be omitted
Section122 - AMENDMENT OF SECTION 5A. -InSection 5-A of the Central Excise Act-, in sub- section
Section123 - AMENDMENT OF SECTION 11A. -InSection 11-A of the Central Excise Act-, after sub-section
Section124 - AMENDMENT OF SECTION 11AA. -Section 11-AA of the Central Excise Act-shall be renumbered as sub-section
Section125 - AMENDMENT OF SECTION 11-AB -InSection 11-AB of the Central Excise Act-,
Section126 - AMENDMENT OF SECTION 11BB. -InSection 11-BB of the Central Excise Act-, for the words "not below ten per cent", the
Section127 - AMENDMENT OF SECTION 35 -InSection 35 of the Central Excise Act-, in sub- section
Section128 - AMENDMENT OF SECTION 35A. -InSection 35-A of the Central Excise Act-,
Section129 - AMENDMENT OF SECTION 35E. -InSection 35-E of the Central Excise Act-, in sub- section
Section130 - AMENDMENT OF SECTION 35F. -InSection 35-F of the Central Excise Act-, after the proviso, the following proviso shall
Section131 - INSERTION OF NEW SECTION 38A. -AfterSection 38 of the Central Excise Act-, the following section shall be inserted
Section132 - VALIDATION OF CERTAIN ACTION TAKEN. -Any action taken or anything done or omitted to be done or purporting to have
Section133 - VALIDATION OF CERTAIN EXEMPTION GIVEN TO POLYTAN IN POWDER OR GRANULE FORM
Section134 - AMENDMENT OF ACT 5 OF 1986. -In theCentral Excise Tariff Act, 1985
Section135 - AMENDMENT OF ACT 58 OF 1957. -TheAdditional Duties of Excise
Chapter2 - NATIONAL CALAMITY CONTINGENT DUTY
Section137 - AMENDMENT OF ACT 32 OF 1994. -In theFinance Act, 1994-, with effect from such date as the Central Government may, by
Section138 - AMENDMENT OF ACT 6 OF 1898 -In theIndian Post Office Act, 1898, with effect from such date as the Central Government
Section139 - AMENDMENT OF SECTION 14 OF ACT 74 OF 1956. -In theCentral Sales Tax Act, 1956, in Section 14
Section140 - OMISSION OF SECTION 55 OF ACT 61 OF 1981. -Section 55 of the National Bank for Agriculture and Rural Development Act,
Section141 - OMISSION OF SECTION 48 OF ACT 53 OF 1987. -Section 48 of the National Housing Bank Act, 1987shall be omitted with
Section142 - OMISSION OF SECTION 50 OF ACT 39 OF 1989. -Section 50 of the Small Industries Development Bank of India Act,
Part2 - Central Bare Acts

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