THE CONSTITUTION OF INDIA ARTICLES IN PART - 12

PART XII
FINANCE, PROPERTY, CONTRACTS AND SUITS
CHAPTER I.FINANCE
General

264. Interpretation.
265. Taxes not to be imposed save by authority of law.
266. Consolidated Funds and public accounts of India and of the States.
267. Contingency Fund.

Distribution of Revenues between the Union and the States

268. Duties levied by the Union but collected and appropriated by the State.
268A. [Omitted]
269. Taxes levied and collected by the Union but assigned to the States.
270. Taxes levied and distributed between the Union and the States.
271. Surcharge on certain duties and taxes for purposes of the Union.
272. [Omitted.]
273. Grants in lieu of export duty on jute and jute products.
274. Prior recommendation of President required to Bills affecting taxation in which States are interested.
275. Grants from the Union to certain States.
276. Taxes on professions, trades, callings and employments.
277. Savings.
278. [Omitted.]
279. Calculation of “net proceeds”, etc.
280. Finance Commission.
281. Recommendations of the Finance Commission.

Miscellaneous financial provisions

282. Expenditure defrayable by the Union or a State out of its revenues.

ARTICLES
283. Custody, etc., of Consolidated Funds, Contingency Funds and moneys credited to the public accounts.
284. Custody of suitors’ deposits and other moneys received by public servants and courts.
285. Exemption of property of the Union from State taxation.
286. Restrictions as to imposition of tax on the sale or purchase of goods.
287. Exemption from taxes on electricity.
288. Exemption from taxation by States in respect of water or electricity in certain cases.
289. Exemption of property and income of a State from Union taxation.
290. Adjustment in respect of certain expenses and pensions.
290A. Annual payment to certain Devaswom Funds.
291. [Omitted .]

CHAPTER II.BORROWING

292. Borrowing by the Government of India.
293. Borrowing by States.

CHAPTER III. PROPERTY, CONTRACTS, RIGHTS, LIABILITIES,
OBLIGATIONS AND SUITS

294. Succession to property, assets, rights, liabilities and obligations in certain cases.
295. Succession to property, assets, rights, liabilities and obligations in other cases.
296. Property accruing by escheat or laps or as bona vacantia.
297. Things of value within territorial waters or continental shelf and resources of the exclusive economic zone to vest in the Union.
298. Power to carry on trade, etc.
299. Contracts.
300. Suits and proceedings.

CHAPTER IV. RIGHT TO PROPERTY

300A. Persons not to be deprived of property save by authority of law.