{"act":{"id":"finance-act-1993","short_title":"The Finance Act, 1993","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 1993-1994.","act_number":"38","act_year":1993,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":43,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-1993/"},"unit":"section","section":{"number":"41","heading":"Amendment of section 5","text":"Gift-tax Amendment of section 5. 41. In section 5 of the Gift-tax Act, 1958 (18 of 1958.) (hereinafter referred to as the, Gift-tax Act),— (a) in sub-section (1),— (i) after clause (iid), the following clause shall be inserted, namely:— (iie) being an individual who is a non-resident Indian, once out of the moneys standing to his credit in an account opened and operated in accordance with the Non-resident (Non-repatriable) Rupee Deposit Scheme, 1992. Explanation.—For the purposes of this clause, \"nonresident Indian\" shall have the meaning assigned to it in clause (e) of section 115C of the Income-tax Act;'; (ii) in clause (vti), for the words \"ten thousand\", the words \"thirty thousand\" shall be substituted with effect from the 1st day of April, 1994; (b) in sub-section (2), for the words \"twenty thousand\", the words \"thirty thousand\" shall be substituted with effect from the 1st day of April, 1994. [Finance Act, 1993] © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><i>Gift-tax</i></p><p><b>Amendment of section 5.</b></p><p><b>41.</b> In section 5 of the Gift-tax Act, 1958 (18 of 1958.) (hereinafter referred to as the, Gift-tax Act),—</p><p>(<i>a</i>) in sub-section (<i>1</i>),—</p><p>(<i>i</i>) after clause (<i>iid</i>), the following clause shall be inserted, namely:—</p><p>(<i>iie</i>) being an individual who is a non-resident Indian, once out of the moneys standing to his credit in an account opened and operated in accordance with the Non-resident (Non-repatriable) Rupee Deposit Scheme, 1992.</p><p><i>Explanation.</i>—For the purposes of this clause, \"nonresident Indian\" shall have the meaning assigned to it in clause (e) of section 115C of the Income-tax Act;';</p><p>(<i>ii</i>) in clause <i>(vti),</i> for the words \"ten thousand\", the words \"thirty thousand\" shall be substituted with effect from the 1st day of April, 1994;</p><p>(<i>b</i>) in sub-section (<i>2</i>), for the words \"twenty thousand\", the words \"thirty thousand\" shall be substituted with effect from the 1st day of April, 1994.</p><p>[Finance Act, 1993]</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":157,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1993/section/41/","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."}