{"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":"9","heading":"Amendment of section 12","text":"Amendment of section 12. 9. Section 12 of the Income-tax Act shall be numbered as sub-section (1) thereof, and after sub-section (1) as so numbered, the following shall be inserted with effect from the 1st day of April, 2001, namely:— ‘(2) The value of any services, being medical or educational services, made available by any charitable or religious trust running a hospital or medical institution or an educational institution, to any person referred to in clause (a) or clause (b) or clause (c) or clause (cc ) or clause (d) of sub-section (3) of section 13, shall be deemed to be income of such trust or institution derived from property held under trust wholly for charitable or religious purposes during the previous year in which such services are so provided and shall be chargeable to income-tax notwithstanding the provisions of sub-section (1) of section 11. Explanation.—For the purposes of this sub-section, the expres­sion \"value\" shall be the value of any benefit or facility grant­ed or provided free of cost or at concessional rate to any person referred to in clause (a) or clause (b) or clause (c) or clause (cc ) or clause (d) of sub-section (3) of section 13.’. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 12.</b></p><p><b>9.</b> Section 12 of the Income-tax Act shall be numbered as sub-section (1) thereof, and after sub-section (1) as so numbered, the following shall be inserted with effect from the 1st day of April, 2001, namely:—</p><p>‘(2) The value of any services, being medical or educational services, made available by any charitable or religious trust running a hospital or medical institution or an educational institution, to any person referred to in clause (<i>a</i>) or clause (<i>b</i>) or clause (<i>c</i>) or clause (<i>cc</i> ) or clause (<i>d</i>) of sub-section (3) of section 13, shall be deemed to be income of such trust or institution derived from property held under trust wholly for charitable or religious purposes during the previous year in which such services are so provided and shall be chargeable to income-tax notwithstanding the provisions of sub-section (1) of section 11.</p><p><i>Explanation.</i>—For the purposes of this sub-section, the expres­sion \"value\" shall be the value of any benefit or facility grant­ed or provided free of cost or at concessional rate to any person referred to in clause (<i>a</i>) or clause (<i>b</i>) or clause (<i>c</i>) or clause (<i>cc</i> ) or clause (<i>d</i>) of sub-section (3) of section 13.’.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":206,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2000/section/9/","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."}