{"act":{"id":"finance-act-1963","short_title":"The Finance Act, 1963","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 1963-1964.","act_number":"13","act_year":1963,"enact_date":"1963-04-28","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":22,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-1963/"},"unit":"section","section":{"number":"13","heading":"Amendment of section 215","text":"Amendment of section 215 13. In section 215 of the Income-tax Act, for sub-section (2), the following sub-section shall be substituted, namely: — \"(2) Where before the date of completion of a regular assessment, a provisional assessment is made under section 141 or tax is paid by the assessee otherwise than in pursuance of such a provisional assessment— (i) interest shall be calculated in accordance with the foregoing provision up to the date on which the tax is paid either as provisionally assessed or otherwise; and (ii) thereafter interest shall be calculated at the rate aforesaid on the amount by which the tax as so paid (in so far as it relates to income subject to advance tax) falls short of the said seventy-five per cent.\". [Finance Act, 1963] © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><strong>Amendment of section 215</strong></p><p><strong>13.</strong> In section 215 of the Income-tax Act, for sub-section (<i>2</i>), the following sub-section shall be substituted, namely: —</p><p>\"(<i>2</i>) Where before the date of completion of a regular assessment, a provisional assessment is made under section 141 or tax is paid by the assessee otherwise than in pursuance of such a provisional assessment—</p><p>(<i>i</i>) interest shall be calculated in accordance with the foregoing provision up to the date on which the tax is paid either as provisionally assessed or otherwise; and</p><p>(<i>ii</i>) thereafter interest shall be calculated at the rate aforesaid on the amount by which the tax as so paid (in so far as it relates to income subject to advance tax) falls short of the said seventy-five per cent.\".</p><p>[Finance Act, 1963]</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":135,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1963/section/13/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}