{"act":{"id":"finance-act-2000","short_title":"The Finance Act, 2000","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2000-2001.","act_number":null,"act_year":2000,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":82,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2000/"},"unit":"section","section":{"number":"21","heading":"Amendment of section 47","text":"Amendment of section 47. 21. In section 47 of the Income-tax Act,— (a) after clause (iii), the following proviso shall be inserted with effect from the 1st day of April, 2001, namely:— \"Provided that this clause shall not apply to transfer under a gift or an irrevocable trust of a capital asset being shares, debentures or warrants allotted by a company directly or indi­rectly to its employees under the Employees’ Stock Option Plan or Scheme.\"; (b) in clause (vic), in sub-clause (a), for the words \"at least seventy-five per cent of the shareholders\", the words \"the shareholders holding not less than three-fourths in value of the shares\" shall be substituted. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 47.</b></p><p><b>21.</b> In section 47 of the Income-tax Act,—</p><p>(<i>a</i>) after clause (<i>iii</i>), the following proviso shall be inserted with effect from the 1st day of April, 2001, namely:—</p><p>\"<b>Provided</b> that this clause shall not apply to transfer under a gift or an irrevocable trust of a capital asset being shares, debentures or warrants allotted by a company directly or indi­rectly to its employees under the Employees’ Stock Option Plan or Scheme.\";</p><p>(<i>b</i>) in clause (<i>vic</i>), in sub-clause (<i>a</i>), for the words \"at least seventy-five per cent of the shareholders\", the words \"the shareholders holding not less than three-fourths in value of the shares\" shall be substituted.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":116,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2000/section/21/","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."}