New Income Tax Bill: Taxpayers can find the relevant provision through section-wise mapping utility. Check here

The income tax department has launched the utility to enable taxpayers to check the relevant provision of the new income tax Bill.

The new income tax Bill was introduced in the Parliament on Thursday and it will now be referred to the Select Committee of Lok Sabha for further review. Meanwhile, the Lok Sabha proceedings have been adjourned till Mar 10. 

Significantly, income tax department has also released frequently asked questions (FAQs) on provisions for salaried taxpayers, and more.

Additionally, if taxpayers want to check which new provision carries their regular exemption and under which provision they can file their appeal etc, – they can go to the relevant provision of the existing Act (Income Tax Act, 1961) and use the section-wise mapping utility to navigate to the relevant provision of the new Bill.

First of all, you can check this link on income tax department’s portal:

Suppose you want to check any special allowance from employer which is given under section 10 (13A). As you click the relevant provision on the left hand side, the corresponding provision on the right hand side (as shown in the image below) will be shown.

Likewise if you want to check ‘section 43’ which carries the definition of certain terms relevant to income from profits and gains of business or profession. The corresponding clause on the right hand side will reveal that this is given in sections 39, 41 and 66 of the New Income Tax Bill.

Taxpayers can check the draft of the new bill given on the same page where you can scroll down to find the relevant provision.

Omitted or not

The utility also shows whether the exemption or deduction that you are looking for has been omitted or not.

For instance, when you want to look for the deduction in respect of contribution to certain pension funds given under section 80CCC, the right side panel will show that it has been ‘omitted’, as the image below shows.

Similarly, 80CCE has also been omitted which deals with the limit on deductions under sections 80C, 80CCC and 80CCD.