{"act":{"id":"finance-act-1991","short_title":"The Finance Act, 1991","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 1991-1992.","act_number":"49","act_year":1991,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":120,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-1991/"},"unit":"section","section":{"number":"57","heading":"Amendment of section 196A","text":"Amendment of section 196A. 57. In section 196A of the Income-tax Act, after sub-section (2), the following sub-section shall be inserted, with effect from the 1st day of October, 1991, namely: — \"(3) Notwithstanding anything contained in this Act, no deduction of tax shall be made from any income payable in respect of units issued under any scheme of the Unit Trust of India established under section 3 of the Unit Trust of India Act, 1963 (52 of 1963), to any institution or fund where such income is not liable to inclusion in its total income under the provisions of sections 11 and 12 or clause (22) or clause (22A) or clause (23), or clause (23AA) or clause (23C) of section 10.\". [Finance (No. 2) Act, 1991] © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 196A.</b></p><p><b>57.</b> In section 196A of the Income-tax Act, after sub-section (<i>2</i>), the following sub-section shall be inserted, with effect from the 1st day of October, 1991, namely: —</p><p>\"(<i>3</i>) Notwithstanding anything contained in this Act, no deduction of tax shall be made from any income payable in respect of units issued under any scheme of the Unit Trust of India established under section 3 of the Unit Trust of India Act, 1963 (52 of 1963), to any institution or fund where such income is not liable to inclusion in its total income under the provisions of sections 11 and 12 or clause (<i>22</i>) or clause (<i>22A)</i> or clause (<i>23</i>), or clause (<i>23AA</i>) or clause (<i>23C</i>) of section 10.\".</p><p>[Finance (No. 2) Act, 1991]</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":133,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1991/section/57/","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."}