{"act":{"id":"finance-act-2001","short_title":"The Finance Act, 2001","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2001-2002.","act_number":null,"act_year":2001,"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-2001/"},"unit":"section","section":{"number":"18","heading":"Insertion of new section 25AA","text":"Insertion of new section 25AA. 18. After section 25A of the Income-tax Act, the following sec­tion shall be inserted with effect from the 1st day of April, 2002, namely:— ‘25AA. Unrealised rent received subsequently to be charged to income-tax.—Where the assessee cannot realise rent from a property let to a tenant and subsequently the assessee has rea­lised any amount in respect of such rent, the amount so realised shall be deemed to be income chargeable under the head \"Income from house property\" and accordingly charged to income-tax as the income of that previous year in which such rent is realised whether or not the assessee is the owner of that property in that previous year.’. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Insertion of new section 25AA.</b></p><p><b>18.</b> After section 25A of the Income-tax Act, the following sec­tion shall be inserted with effect from the 1st day of April, 2002, namely:—</p><p>‘25AA. <i>Unrealised rent received subsequently to be charged to income-tax.</i>—Where the assessee cannot realise rent from a property let to a tenant and subsequently the assessee has rea­lised any amount in respect of such rent, the amount so realised shall be deemed to be income chargeable under the head \"Income from house property\" and accordingly charged to income-tax as the income of that previous year in which such rent is realised whether or not the assessee is the owner of that property in that previous year.’.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":121,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2001/section/18/","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."}