{"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":"63","heading":"Amendment of section 245N","text":"Amendment of section 245N. 63. In section 245N of the Income-tax Act, for clauses (a) and (b), the following clauses shall be substituted with effect from the 1st day of June, 2000, namely:— ‘(a) \"advance ruling\" means— (i) a determination by the Authority in relation to a transaction which has been undertaken or is proposed to be under­taken by a non-resident applicant; or (ii) a determination by the Authority in relation to a transaction which has been undertaken or is proposed to be under­taken by a resident applicant with a non-resident, and such determination shall include the determination of any question of law or of fact specified in the application; (iii) a determination or decision by the Authority in respect of an issue relating to computation of total income which is pending before any income-tax authority or the Appellate Tribunal and such determination or decision shall include the determination or decision of any question of law or of fact relating to such computation of total income specified in the application; (b) \"applicant\" means any person who— (i) is a non-resident referred to in sub-clause (i) of clause (a); or (ii) is a resident referred to in sub-clause (ii) of clause (a); or (iii) is a resident falling within any such class or category of persons as the Central Government may, by notifica­tion in the Official Gazette, specify in this behalf; and (iv) makes an application under sub-section (1) of section 245Q;’. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 245N.</b></p><p><b>63.</b> In section 245N of the Income-tax Act, for clauses (<i>a</i>) and (<i>b</i>), the following clauses shall be substituted with effect from the 1st day of June, 2000, namely:—</p><p>‘(<i>a</i>) \"advance ruling\" means—</p><p>(<i>i</i>) a determination by the Authority in relation to a transaction which has been undertaken or is proposed to be under­taken by a non-resident applicant; or</p><p>(<i>ii</i>) a determination by the Authority in relation to a transaction which has been undertaken or is proposed to be under­taken by a resident applicant with a non-resident,</p><p>and such determination shall include the determination of any question of law or of fact specified in the application;</p><p>(<i>iii</i>) a determination or decision by the Authority in respect of an issue relating to computation of total income which is pending before any income-tax authority or the Appellate Tribunal and such determination or decision shall include the determination or decision of any question of law or of fact relating to such computation of total income specified in the application;</p><p>(<i>b</i>) \"applicant\" means any person who—</p><p>(<i>i</i>) is a non-resident referred to in sub-clause (<i>i</i>) of clause (<i>a</i>); or</p><p>(<i>ii</i>) is a resident referred to in sub-clause (<i>ii</i>) of clause (<i>a</i>); or</p><p>(<i>iii</i>) is a resident falling within any such class or category of persons as the Central Government may, by notifica­tion in the Official Gazette, specify in this behalf; and</p><p>(<i>iv</i>) makes an application under sub-section (1) of section 245Q;’.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":247,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2000/section/63/","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."}