Finance Bill 2021 in PDF | Download Union Budget 2021 Income Tax

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Finance Bill 2021: The Finance Minister, Smt. Nirmala Sitharaman has presented the Union Budget 2021-22 in the Parliament. She has presented her third and India’s First Ever Digital Budget today. We have uploaded here Union Finance Bill 2021 i.e. Budget 2021.

Download the full text of the Finance Bill (Bill No. 15 of 2021), which was presented in the Lok Sabha on 01-02-2021 to seek the House’s approval for the central government’s proposals for the financial year 2021-22.

Click here to download Finance Bill 2021 in PDF format. This PDF file will help you to understand the tax proposals made for the assessment year commencing on the 1st day of April, 2022. Finance Bill, 2021 was presented in the Lok Sabha by Finance Minister on 01-02-2021.

Finance Bill 2021 for AY 2022-23

The Finance Act 2021

Finance Act 2021 is relevant for Assessment Year (AY) 2022-23 related to the Financial Year (FY) 2021-22.

CHAPTER I

PRELIMINARY

  1. Short title and commencement.

(1) This Act may be called the Finance Act, 2021.

(2) Save as otherwise provided in this Act,––

  • (a) sections 2 to 79 shall come into force on the 1st day of April, 2021;
  • (b) sections 99 to 114 shall come into force on such date a the Central Government may, by notification in the Official Gazette, appoint.

CHAPTER II

RATES OF INCOME-TAX

  1. Income-tax.

CHAPTER III

DIRECT TAXES

Income-tax

  1. Amendment of section 2.
  2. Amendment of section 9A.
  3. Amendment of section 10.
  4. Amendment of section 11.
  5. Amendment of section 32.
  6. Amendment of section 36.
  7. Amendment of section 43B.
  8. Amendment of section 43CA.
  9. Amendment of section 44AB.
  10. Amendment of section 44ADA.
  11. Amendment of section 44DB.
  12. Amendment of section 45.
  13. Amendment of section 47.
  14. Amendment of section 48.
  15. Amendment of section 49.
  16. Amendment of section 50.
  17. Amendment of section 54GB.
  18. Amendment of section 55.
  19. Amendment of section 56.
  20. Amendment of section 72A.
  21. Amendment of section 79.
  22. Amendment of section 80EEA.
  23. Amendment of section 80-IAC.
  24. Amendment of section 80-IBA.
  25. Amendment of section 80-LA.
  26. Insertion of new section 89A.
  27. Amendment of section 112A.
  28. Amendment of section 115AD.
  29. Amendment of section 115JB.
  30. Amendment of section 139.
  31. Amendment of section 142.
  32. Amendment of section 143.
  33. Substitution of new section for section 147.
  34. Substitution of new section for section 148.
  35. Insertion of new section 148A.
  36. Substitution of new section for section 149.
  37. Substitution of new section for section 151.
  38. Amendment of section 151A.
  39. Amendment of section 153.
  40. Amendment of section 153A.
  41. Amendment of section 153C.
  42. Amendment of section 194.
  43. Amendment of section 194A.
  44. Amendment of section 194-IB.
  45. Insertion of new section 194P.
  46. Insertion of new section 194Q.
  47. Amendment of section 196D.
  48. Amendment of section 206AA.
  49. Insertion of new section 206AB.
  50. Insertion of new section 206CCA.
  51. Amendment of section 234C.
  52. Amendment of section 245A.
  53. Insertion of new section 245AA.
  54. Amendment of section 245B
  55. Amendment of section 245BC.
  56. Amendment of section 245BD.
  57. Amendment of section 245C.
  58. Amendment of section 245D.
  59. Amendment of section 245DD.
  60. Amendment of section 245F.
  61. Amendment of section 245G.
  62. Amendment of section 245H.
  63. Insertion of new section 245M.
  64. Insertion of new Chapter XIX-AA.
  65. Amendment of section 245N.
  66. Amendment of section 245-O.
  67. Insertion of new section 245-OB.
  68. Amendment of section 245P.
  69. Amendment of section 245Q.
  70. Amendment of section 245R.
  71. Amendment of section 245S.
  72. Amendment of section 245T.
  73. Amendment of section 245U.
  74. Amendment of section 245V.
  75. Insertion of new section 245W.
  76. Amendment of section 255.
  77. Amendment of section 281B.

CHAPTER IV

INDIRECT TAXES
Customs

  1. Amendment of section 2.
  2. Amendment of section 5.
  3. Amendment of section 25.
  4. Insertion of new section 28BB.
  5. Amendment of section 46.
  6. Amendment of section 110.
  7. Amendment of section 113.
  8. Insertion of new section 114AC.
  9. Amendment of section 139.
  10. Amendment of section 149.
  11. Amendment of section 153.
  12. Insertion of new section 154C.

Customs Tariff

  1. Amendment of section 8B.
  2. Amendment of section 9.
  3. Amendment of section 9A.
  4. Amendment of First Schedule.

Excise

  1. Amendment of Fourth Schedule.
  2. Amendment of Chapter 27 of Fourth Schedule.
  3. Revised date of effect to amendments made in Fourth Schedule vide notification issued under section 3C of Central Excise Act, 1944.

Central Goods and Service Tax

  1. Amendment of section 7.
  2. Amendment of section 16.
  3. Amendment of section 35.
  4. Substitution of new section for section 44.
  5. Amendment of section 50.
  6. Amendment of section 74.
  7. Amendment of section 75.
  8. Amendment of section 83.
  9. Amendment of section 107.
  10. Amendment of section 129.
  11. Amendment of section 130.
  12. Substitution of new section for section 151.
  13. Amendment of section 152.
  14. Amendment of section 168.
  15. Amendment of Schedule II.

Integrated Goods and Services Tax

  1. Amendment of section 16.

CHAPTER V

AGRICULTURE INFRASTRUCTURE AND DEVELOPMENT CESS

  1. Agriculture Infrastructure and Development Cess on imported goods.
  2. Agriculture Infrastructure and Development Cess on excisable goods.

CHAPTER VI

MISCELLANEOUS

PART I
AMENDMENT TO THE INDIAN STAMP ACT, 1899

  1. Insertion of new section 8G.

PART II
AMENDMENT TO THE CONTINGENCY FUND OF INDIA ACT, 1950

  1. Amendment of Act 49 of 1950.

PART III
AMENDMENTS TO THE LIFE INSURANCE CORPORATION ACT, 1956

  1. Commencement of this Part.
  2. Amendment of section 2.
  3. Substitution of section 4.
  4. Substitution of section 5.
  5. Substitution of section 19.
  6. Substitution of section 20.
  7. Amendment of section 22.
  8. Insertion of new section 23A.
  9. Substitution of section 24.
  10. Substitution of section 25.
  11. Amendment of section 26.
  12. Amendment of section 27.
  13. Amendment of section 28.
  14. Amendment of section 28A.
  15. Insertion of new sections 28B and 28C.
  16. Substitution of sections 46 and 47.
  17. Amendment of section 48.
  18. Amendment of section 49.
  19. Insertion of sections 50 and 51.

PART IV
AMENDMENTS TO THE SECURITIES CONTRACTS (REGULATION) ACT, 1956

  1. Commencement of this Part.
  2. Amendment of section 2.
  3. Insertion of new section 30B.

PART V
AMENDMENT TO THE CENTRAL SALES TAX ACT, 1956

  1. Amendment of Act 74 of 1956.

PART VI
AMENDMENTS TO THE PROHIBITION OF BENAMI PROPERTY TRANSACTION ACT, 1988

  1. Commencement of this Part.
  2. Amendment of section 2.
  3. Substitution of section 7.
  4. Omission of sections 8 to 17.
  5. Amendment of section 26.
  6. Amendment of section 68.

PART VII
AMENDMENT TO THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992

  1. Amendment of Act 15 of 1992.

PART VIII
AMENDMENT TO THE RECOVERY OF DEBTS DUE TO BANKS AND FINANCIAL INSTITUTIONS ACT, 1993

  1. Amendment of Act 51 of 1993.

PART IX
AMENDMENT TO THE FINANCE ACT, 2001

  1. Amendment of Seventh Schedule.

PART X
AMENDMENT TO THE SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT, 2002

  1. Amendment of Act 54 of 2002.

PART XI
AMENDMENTS TO THE INDUSTRIAL DEVELOPMENT BANK (TRANSFER OF UNDERTAKING AND REPEAL) ACT, 2003

  1. Commencement of this Part.
  2. Amendment of section 3.

PART XII
AMENDMENTS TO THE FINANCE (NO.2) ACT, 2004

  1. Commencement of this Part.
  2. Amendment of section 97.
  3. Amendment of section 98.
  4. Amendment of section 100.
  5. Amendment of section 101.

PART XIII
AMENDMENT TO THE FINANCE ACT, 2016

  1. Amendment of Act 28 of 2016.

PART XIV
AMENDMENT TO THE DIRECT TAX VIVAD SE VISHWAS ACT, 2020

  1. Amendment of Act 3 of 2020.

THE FIRST SCHEDULE.
THE SECOND SCHEDULE.
THE THIRD SCHEDULE.
THE FOURTH SCHEDULE.
THE FIFTH SCHEDULE.
THE SIXTH SCHEDULE.
THE SEVENTH SCHEDULE.

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