| SECTION/SCHEDULE | PARTICULARS |
| Finance Act | |
| 2 & 1st Sch. | Rate structure 4-6 |
| Income-tax Act | |
| 2(18) | Amendment of definition of ��company in which the public are substantially interested�� 7 |
| 10(10B) | Modifications of provisions relating to retrenchment compensation received by a workman 8 |
| 10(15) | Exemption from income-tax in respect of interest payable to foreign banks performing central banking functions 9 |
| 10(26A) | Exemption in respect of income of residents of Ladakh extended for further period of three years 10 |
| 16(i) | Modification of provisions relating to standard deduction in the case of salaried taxpayers 11 |
| 17(2)(iii)(c) | Modification of provisions relating to ��perquisites�� 12 |
| 17(2)(vi), 40A(5), | Discontinuance of provision for taxation of perquisites |
| Expln. 2 (b) | represented by interest free loans or loans at concessional rate of interest to employees 13 |
| 33AB | New provisions relating to deduction of contributions to special account with the National Bank for Agriculture and Rural Development 14 |
| 35AB | New provisions relating to deduction in respect of expenditure on know-how 15 |
| 35CC | Withdrawal of deduction relating to rural development allowance 16 |
| 36(1)(vii)/(viia) | Modification of provisions relating to bad and doubtful |
| & 36 (2) | debts made by banking companies 17 |
| 36(1)(viii)/(viiia) | Modification of provisions relating to deductions in respect of reserves in the case of financial corporations, notified banks, etc. 18 |
| 37 | Withdrawal of provision for partial disallowance of certain items of business expenditure 19 |
| 40A(8) | Withdrawal of provisions for partial disallowance of interest paid by non-banking non-financial companies on public deposits 20 |
| 40A(12), 58(1) | Disallowance of expenditure incurred in connection |
| (a)(ia) & 80VV | with certain proceedings under the Income-tax Act 21 |
| 44AB | Modification of provisions relating to audit of accounts of certain persons carrying on business or profession 22 |
| 53 & 54 | Consequential amendment in the provisions relating to exemption of capital gains from a residential house 23 |
| 80F | Withdrawal of deduction in respect of educational expenses in certain cases 25 |
| 80G | Modification of provision relating to deduction in respect of donations to certain funds, charitable institutions, etc. 26 |
| 80CC | Modification of provision relating to deduction in respect of investment in certain new shares 24 |
| 80HHC | Modification of provisions relating to incentive for export 27 |
| 80-I | Period extended by another 5 years for deduction in respect of profits and gains from industrial undertakings, etc. 28 |
| 80JJ | Withdrawal of deduction in respect of profits and gains from business of livestock breeding or poultry or dairy farming 29 |
| 80N | Withdrawal of deduction in respect of dividends received from certain foreign companies 30 |
| 80QQA | Extension of tax concession in respect of income of authors of text books in Indian languages 31 |
| 80V | Withdrawal of deduction of interest on moneys borrowed to pay taxes 32 |
| 115 | Modification of provisions relating to long-term capital gains in the case of companies 33 |
| 115E | Modification of provisions relating to certain incomes of non-residents 34 |
| 136 | Modification of provisions relating to proceedings before income-tax authorities 35 |
| 139(1A)(b) | Modification of provisions relating to return of income 36 |
| Clause (e) of | Consequence of non-submission of report of audit of |
| Expln. to | cost accounts along with returns 37 |
| Section 139(9) | |
| 167A | Modification of provisions relating to taxation of associations of persons where shares of members are indeterminate or unknown 38 |
| 180A | New provisions providing for concessional taxation of consideration for know-how 39 |
| 208 | Raising of threshold for payment of advance tax in certain cases 40 |
| 245D | Clarificatory amendment of provision or payment of income-tax in case of application to the Settlement Commission 41 |
| 273A | Modification of provisions relating to reduction or waiver of penalty under section 273A in certain cases 42 |
| 278A | Amendment of provision relating to punishment for second and subsequent offences 43 |
| Wealth-tax Act | |
| 5(1)(i), proviso | Withdrawal of exemption from wealth-tax in respect of business assets of charitable and religious trusts 44 |
| Clause (iv) of | Modification of provisions relating to exemption from |
| sub-sec. (1), | wealth-tax in respect of certain assets 45 |
| sub-secs. (1A) | |
| & (3) of sec. 5 | |
| 18B | Modification of provisions relating to reduction or waiver of penalty in certain cases 46 |
| 22D | Clarificatory amendment of provision for payment of wealth-tax in case of application to the Settlement Commission 47 |
| Sch. 1 | Reduction in the rates of wealth-tax 48-52 |
| interest-tax act | |
| 6(2) | Interest-tax not to be charged after 31-3-1985 53 |