Section/Schedule

Particulars/ Paragraph number

Finance Act, 2018

First Schedule

Rate Structure, 3.1-3.4

Chapter III

Income-tax Act, 1961

2

Widening of scope of Accumulated profits for the purposes of Dividend, 4.1-4.5; Rationalisation of provision relating to conversion of stock-in-trade into Capital  Asset, 14.1-14.4;  Taxability of compensation in connection to business or employment, 13.1-13.3; New regime for taxation of long-term capital gains on sale of equity shares etc., 29.1-29.13

9

Aligning the scope of “business connection” with modified PE Rule as per Multilateral Instrument (MLI), 5.1-5.5;  “Business connection” to include “Significant Economic presence”, 6.1-6.9

10

Royalty and FTS payment by NTRO to a non-resident to be tax- exempt, 7.1-7.4; Extending the benefit of tax-free withdrawal from NPS to non-employee subscribers, 8.1-8.3; Tax deduction at source and manner of payment in respect of certain exempt entities, 11.1- 11.5; New regime for taxation of long-term capital gains on sale of equity shares etc., 29.1-29.13; Exemption to specified  income  of class of body, authority, Board, Trust or Commission in certain cases, 9.1-9.4; Exemption of income of Foreign  Company from sale of leftover stock of crude oil on termination of agreement or arrangement, 10.1-10.4

11

Tax deduction at source and manner of payment in  respect of certain exempt entities, 11.1-11.5

16

Standard deduction on salary income, 12.1-12.4

17

Standard deduction on salary income, 12.1-12.4

28

Taxability of compensation in connection to business or employment, 13.1-13.3; Rationalisation of provision relating to conversion of stock-in-trade into Capital Asset, 14.1-14.4