| 3 | Amendment of section 2 | Section 2(42C) amended to substitute ‘sales’ with ‘transfer’ | AY 2021-22 | |
| Section 2(47A)-New term ‘virtual digital asset’ defined. | AY 2022-23 | Notification to come |
| 4 | Amendment of section 10 | Amendment in Clause (4E)-Exemption to income of non-residents from transfer of offshore derivatives etc. included | AY 2023-24 | |
| Amendment in Clause (4F)-Exemption to royalty & interest income of non-residents from leasing of a ship included | AY 2023-24 | |
| Insertion of Clause (4G)-Exemption to income of non-residents for portfolio management services | AY 2023-24 | |
| Amendment in Clauses (8),(8A),(8B),(9)-Exemption to certain income in the nature of remuneration, fees, etc. which occurs outside India withdrawn | AY 2023-24 | |
Amendment in Clause (23C)
Exemption to universities,hospitals, etc. aligned to the provisions for trusts or institutions covered u/s 11 |
| Approval by PCIT/CIT instead or Prescribed Authority | 01.04.2022 | |
| Option to treat Voluntary contribution for repair and renovation of religious institutions as Corpus | AY 2021-22 | |
| Accumulation of income where 85% of income not applied and many other provisions | AY 2023-24 | |
| 5 | Amendment of section 11 | Section 11(1) amended: Voluntary contribution received for repair and renovation of religious institutions may be treated as Corpus and its taxability in case of non-compliance | AY 2021-22 | |
| Section 11(3) amended- Taxability of unapplied accumulated income in the 5th year | AY 2023-24 | |
| Section 11 amended- Application of income in the year of actual payment | AY 2022-23 | |
| 6 | Amendment of section 12A | Compulsory maintenance of Books of accounts to be prescribed for Trusts | AY 2023-24 | Notification to come |
| 7 | Amendment of section 12AB | Sub-section (4) amended- Cancellation of registration of a Trust on specified violations | AY 2022-23 | |
| Sub-section (5) amended- Time limit for passing order for cancellation or refusal to cancel the registration of a Trust prescribed | AY 2022-23 | |
| 8 | Amendment of section 13 | Section 13(1) amended- Disallowance of proportionate income applied for specified person | AY 2023-24 | |
| Section 13(10) inserted- Computation of income of a Trust in case of certain non-compliances | AY 2023-24 | |
| Section 13(11) inserted- No deduction for set-off of loss | AY 2023-24 | |
| 9 | Amendment of section 14A | Disallowance of expenses incurred for earning exempt income | AY 2022-23 | |
| 10 | Amendment of section 17 | COVID-19 medical treatment expenses incurred by employer shall not be treated as perquisites | AY 2020-21 | Notification to come |
| 11 | Amendment of section 35 | Earlier Drafting error for Deduction for scientific research to donee corrected | AY 2021-22 | |
| 12 | Amendment of section 37 | Expenses to be disallowed for an offence | AY 2022-23 | |
| 13 | Amendment of section 40(a)(ii) | Surcharge or cess shall be treated as tax and thus disallowed | AY 2005-06 | |
| 14 | Amendment of section 43B | Conversion of Interest into Debenture | AY 2023-24 | |
| 15 | Amendment of section 50 | Reduction in goodwill to be treated as transfer | AY 2021-22 | |
| 16 | Amendment of section 56 | Section 56(2)(viib)- Receipt of unlisted shares for no consideration from AIF regulated by IFSC Act | AY 2023-24 | |
| Section 56(2)(viib)- COVID-19 related expenses upto Rs. 10 Lakh shall not be treated as gift | AY 2020-21 | Notification to come |
| Section 56(2)(viib)- Taxability on Gift of VDA | AY 2023-24 | |
| 17 | Amendment of section 68 | Source of source of loan and borrowings is required | AY 2023-24 | |
| 18 | Amendment of section 79 | Carry forward and set off of losses in case of strategic disinvestment of PSUs | AY 2022-23 | |
| 19 | Insertion of new section 79A | No set off of losses consequent to search, requisition and survey | AY 2022-23 | |
| 20 | Amendment of section 80CCD | 14% deduction allowed for NPS contribution to state government employees | AY 2020-21 | |
| 21 | Amendment of section 80DD | Deduction in respect of maintenance including medical treatment of a dependant who is a person with disability | AY 2023-24 | |
| 22 | Amendment of section 80-IAC | Sunset clause for incorporation of startup extended by 1 year | AY 2022-23 | |
| 23 | Amendment of section 80LA | Income from transfer of a ship is included for deduction | AY 2023-24 | |
| 24 | Amendment of section 92CA | Tme limit to issue direction for determination of the arm's length price extended by 2 years from 31.3.2022 to 31.3.2024 | AY 2022-23 | |
| 25 | Amendment of section 94 | Bonus and Dividend stripping provisions extended to securities | AY 2023-24 | |
| 26 | Amendment of section 115BAB | Manufacturing commencement date extended by one year to 31.03.2024 | AY 2022-23 | |
| 27 | Amendment of section 115BBD | Special tax rates on dividends received from foreign companies ceases to apply | AY 2023-24 | |
| 28 | Insertion of new sections 115BBH and 115BBI | Tax on income from virtual digital assets -Sec 115BBH
Special tax rate for specified income in excess of 15% of trusts and institutions-Sec 115BBI | AY 2023-24 | |
| 29 | Amendment of section 115JC | AMT reduced to 9% and 15% for IFSC and Cooperative society | AY 2023-24 | |
| 30 | Amendment of section 115JF | AMT reduced to 9% and 15% for IFSC and Cooperative society | AY 2023-24 | |
| 31 | Amendment of section 115TD | Tax on accreted income modified to cover section 10(23C) Trust or institutions approved u/s 10(23C) | AY 2023-24 | |
| 32 | Amendment of section 115TE | Interest on failure to pay tax on accreted income is made applicable to Trust or institutions approved u/s 10(23C) | AY 2023-24 | |
| 33 | Amendment of section 115TF | Assessee-in-default for failure to pay tax on accreted income is made applicable to Trust or institutions approved u/s 10(23C) | AY 2023-24 | |
| 34 | Amendment of section 119 | Power of CBDT to issue order for Section 234F included | AY 2022-23 | |
| 35 | Amendment of section 132 | Reference to Assessment order u/s 143(3) or 144 or 147 changed to cover retention of seized material | 01.04.2022 | |
| 36 | Amendment of section 132B | Assessment redefined | 01.04.2022 | |
| 37 | Amendment of section 133A | Income-tax authority redefined to conduct survey | 01.04.2022 | |
| 38 | Amendment of section 139 | Sec 139(8A)-Furnishing Updated Return | AY 2022-23 | Notification to come |
| 39 | Insertion of new section 140B | Additional income-tax payable for furnishing updated return | AY 2022-23 | Notification to come |
| 40 | Amendment of section 143 | Assessment or certain institutions | 01.04.2022 | |
| 41 | Amendment of section 144 | Updated return furnished u/s 139(8A) included | AY 2022-23 | |
| 42 | Amendment of section 144B | Faceless Assessment provisions amended | AY 2022-23 | Notification to come |
| 43 | Amendment of section 144C | Power to issue directions extended by two years to 31.03.2024 | 01.04.2022 | |
| 44 | Amendment of section 148 | Approval provisions amended | 01.04.2022 | |
| 45 | Amendment of section 148A | Prior approval provisions amended | 01.04.2022 | |
| 46 | Insertion of new section 148B | Prior approval for assessment, reassessment or recomputation in certain cases | 01.04.2022 | |
| 47 | Amendment of section 149 | Time limit to issue notices amended | 01.04.2022 | |
| 48 | Amendment of section 153 | Time limit to complete assessment in case of updated return | 01.04.2022 | |
| 49 | Amendment of section 153B | Time limit to complete search assessments cases | 01.04.2021 | |
| 50 | Insertion of new section 156A | Modification of demand notice in IBC cases | 01.04.2022 | |
| 51 | Amendment of section 158AA | Directions to avoid repetitive appeals ceases | 01.04.2022 | |
| 52 | Insertion of new section 158AB | Procedure where an identical question of law is pending before High Courts or Supreme Court in any assessee case | 01.04.2022 | Notification to come |
| 53 | Amendment of section 170 | Validity of proceedings on successor entity in case of reorganisation | 01.04.2022 | |
| 54 | Insertion of new section 170A | Furnishing modified return after Adjudicating Authority Order in IBC cases | 01.04.2022 | Rules to come |
| 55 | Amendment of section 179 | Omission of superfluous word ‘in liquidation’ from marginal heading.
Tax due shall also include fees. | 01.04.2022 | |
| 56 | Amendment of section 194-IA | TDS on immovable property shall be on higher of actual consideration or stamp duty value | 01.04.2022 | |
| 57 | Amendment of section 194-IB | Exclusion from Section 206AB | 01.04.2022 | |
| 58 | Insertion of new section 194R | TDS on benefit of perquisite in respect of business or profession. | 01.07.2022 | |
| 59 | Insertion of new section 194S | TDS on Consideration for transfer of virtual digital asset | 01.07.2022 | Guidelines to come |
| 60 | Amendment of section 201 | Payment of interest | 01.04.2022 | |
| 61 | Amendment of section 206AB | Sections 194-IA, 194-IB and 194M excluded | 01.04.2022 | |
| 62 | Amendment of section 206C | Payment of interest | 01.04.2022 | |
| 63 | Amendment of section 206CCA | Wordings of the provisions for non-filers rationalised | 01.04.2022 | |
| 64 | Amendment of section 234A | Payment of interest on filing of return under Sec 139(8A) included | AY 2022-23 | |
| 65 | Amendment of section 234B | Tax paid u/s 140B included | AY 2022-23 | |
| 66 | Insertion of new section 239A | Refund of TDS from payment to non-resident | 01.04.2022 | Notification to come |
| 67 | Amendment of section 245MA | Passing of order by AO after the order of DRC | 01.04.2022 | |
| 68 | Amendment of section 246A | Section 239A order is made appealable to CIT(A) | 01.04.2022 | |
| 69 | Amendment of section 248 | Appeal provisions repealed after section 239A is introduced | 01.04.2022 | |
| 70 | Amendment of section 253 | Power to issue directions for filing of Faceless Appeal extended by 2 years to 31.03.2024 | 01.04.2022 | |
| 71 | Amendment of section 255 | Power to issue directions for disposal of Faceless Appeal extended by 1 year to 31.03.2024 | 01.04.2022 | |
| 72 | Amendment of section 263 | TPO order is included in Revision powers of jurisdictional CIT | 01.04.2022 | |
| 73 | Amendment of section 271AAB | CIT(A) is empowered to impose penalty in search cases | 01.04.2022 | |
| 74 | Amendment of section 271AAC | CIT(A) is empowered to impose penalty in undisclosed income cases | 01.04.2022 | |
| 75 | Amendment of section 271AAD | CIT(A) is empowered to impose penalty in fasle entry, etc. cases | 01.04.2022 | |
| 76 | Insertion of new section 271AAE | Penalty on Trusts and other institutions for passing on benefit to related person | 01.04.2022 | |
| 77 | Amendment of section 271C | Wordings of provisions aligned | 01.04.2022 | |
| 78 | Amendment of section 272A | Penalty amount increased to Rs. 500 from Rs. 100 | 01.04.2022 | |
| 79 | Amendment of section 276AB | Provisions made inoperative | 01.04.2022 | |
| 80 | Amendment of section 276B | Wordings of provisions aligned | 01.04.2022 | |
| 81 | Amendment of section 276CC | Reference to furnishing of updated return u/s 139(8A) included | 01.04.2022 | |
| 82 | Amendment of section 278A | Reference to Section 276BB included | 01.04.2022 | |
| 83 | Amendment of section 278AA | Reference to Section 276BB included | 01.04.2022 | |
| 84 | Section 285B substituted | Provisions substituted to cover specified activities | 01.04.2022 | Notification to come |
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