{"act":{"id":"finance-act-1999","short_title":"The Finance Act, 1999","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 1999-2000.","act_number":null,"act_year":1999,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":102,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-1999/"},"unit":"section","section":{"number":"40","heading":"Amendment of section 80D","text":"Amendment of section 80D. 40. In section 80D of the Income-tax Act, with effect from the 1st day of April, 2000,— (a ) in sub-section (1), after clause (ii), the following proviso shall be inserted, namely :— \" Provided that where the sum specified in sub-section (2) is paid to effect or to keep in force an insurance on the health of the assessee, or his wife or her husband or dependant parents or any member of the family in case the assessee is a Hindu undivided family, and who is a senior citizen, the provisions of this section shall have effect as if for the words \"ten thousand rupees\", the words \"fifteen thousand rupees\" had been substitut­ed;\"; (b ) in sub-section (2), the following Explanation shall be inserted at the end, namely :— ‘Explanation.— For the purpose of this section, \"senior citizen\" shall have the meaning assigned to it in the Explanation to section 80DDB.’. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 80D.</b></p><p><b>40.</b> In section 80D of the Income-tax Act, with effect from the 1st day of April, 2000,—</p><p>(<i>a</i> ) in sub-section (1), after clause (<i>ii</i>), the following proviso shall be inserted, namely :—</p><p>\" <b>Provided</b> that where the sum specified in sub-section (<i>2</i>) is paid to effect or to keep in force an insurance on the health of the assessee, or his wife or her husband or dependant parents or any member of the family in case the assessee is a Hindu undivided family, and who is a senior citizen, the provisions of this section shall have effect as if for the words \"ten thousand rupees\", the words \"fifteen thousand rupees\" had been substitut­ed;\";</p><p>(<i>b</i> ) in sub-section (2), the following <i>Explanation</i> shall be inserted at the end, namely :—</p><p><i> ‘Explanation.—</i> For the purpose of this section, \"senior citizen\" shall have the meaning assigned to it in the <i>Explanation</i> to section 80DDB.’.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":162,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1999/section/40/","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."}