{"act":{"id":"finance-act-1992","short_title":"The Finance Act, 1992","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 1992-1993.","act_number":"18","act_year":1992,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":109,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-1992/"},"unit":"section","section":{"number":"71","heading":"Amendment of section 194A","text":"Amendment of section 194A. 71. In section 194A of,\" the Income-tax Act, with effect from the 1st day of June, 1992,— (a) in sub-section (1), the proviso shall be omitted; (b) sub-section (2) shall be omitted; (c) in sub-section (3)., for clauses (vii) and (viia), the following clause shall be substituted, namely: — \"(vii) to such income credited or paid in respect of deposits with a banking company to which the Banking Regulation Act, 1949,(10 of 1949)applies (including any bank or banking institution referred to in section 51 of that Act), or with a co-operative society engaged in carrying on the business of banking (including a cooperative land mortgage bank or a co-operative land development bank);\"; (d) the Explanation occurring at the end shall be omitted, [Finance Act, 1992] © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p>Amendment of section 194A.</p><p><b>71.</b> In section 194A of,\" the Income-tax Act, with effect from the 1st day of June, 1992,—</p><p>(<i>a</i>) in sub-section (<i>1</i>), the proviso shall be omitted;</p><p>(<i>b</i>) sub-section (<i>2</i>) shall be omitted;</p><p>(<i>c</i>) in sub-section (<i>3</i>)., for clauses (<i>vii</i>) and <i>(viia),</i> the following clause shall be substituted, namely: —</p><p>\"(<i>vii</i>) to such income credited or paid in respect of deposits with a banking company to which the Banking Regulation Act, 1949,(10 of 1949)applies (including any bank or banking institution referred to in section 51 of that Act), or with a co-operative society engaged in carrying on the business of banking (including a cooperative land mortgage bank or a co-operative land development bank);\";</p><p>(<i>d</i>) the <i>Explanation</i> occurring at the end shall be omitted,</p><p>[Finance Act, 1992]</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-1992/section/71/","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."}