{"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":"48","heading":"Amendment of section 80HHE","text":"Amendment of section 80HHE. 48. In section 80HHE of the Income-tax Act, in sub-section (2), with effect from the 1st day of June, 1999,— (a ) for the portion beginning with the words \"where the Commissioner\" and ending with the words \"may allow in this be­half\", the words \"within such further period as the competent authority may allow in this behalf\" shall be substituted; (b ) the Explanation shall be numbered as Explanation 1 thereof and after Explanation 1 as so numbered, the following Explanation shall be inserted, namely:— ‘ Explanation 2.—For the purposes of this sub-section, the ex­pression \"competent authority\" means the Reserve Bank of India or such other authority as is authorised under any law for the time being in force for regulating payments and dealings in foreign exchange.’. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 80HHE.</b></p><p><b>48.</b> In section 80HHE of the Income-tax Act, in sub-section (2), with effect from the 1st day of June, 1999,—</p><p>(<i>a</i> ) for the portion beginning with the words \"where the Commissioner\" and ending with the words \"may allow in this be­half\", the words \"within such further period as the competent authority may allow in this behalf\" shall be substituted;</p><p>(<i>b</i> ) the <i>Explanation</i> shall be numbered as <i>Explanation 1</i> thereof and after <i>Explanation 1</i> as so numbered, the following <i>Explanation</i> shall be inserted, namely:—</p><p>‘ <i>Explanation 2</i>.—For the purposes of this sub-section, the ex­pression \"competent authority\" means the Reserve Bank of India or such other authority as is authorised under any law for the time being in force for regulating payments and dealings in foreign exchange.’.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":137,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1999/section/48/","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."}