Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Don't have an account? Register Here
<h1>Finance Bill 2010: New Section 80CCF for Tax Deductions on Infrastructure Bonds; Amends Excise Act for CENVAT Credit Rules.</h1> The Finance Bill, 2010 introduces several amendments to existing tax legislation. Clause 24 proposes a new section 80CCF in the Income-tax Act, allowing individuals and Hindu undivided families to deduct up to twenty thousand rupees for subscriptions to long-term infrastructure bonds, as notified by the Central Government. Clause 67 amends the Central Excise Act to empower the government to create rules for managing duty evasion and misuse of CENVAT credit. Clause 75 and 82 grant the government authority to address implementation issues and apply excise provisions to cess, respectively. Clause 83 allows rule-making for cess assessment and collection. These delegated powers are procedural and require parliamentary oversight.