{"act":{"id":"finance-act-2004","short_title":"The Finance Act, 2004","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2004-2005.","act_number":null,"act_year":2004,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":68,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2004/"},"unit":"section","section":{"number":"12","heading":"Amendment of section 48","text":"Amendment of section 48. 12. In section 48 of the Income-tax Act, after the fourth provi­so and before the Explanation, the following proviso shall be inserted with effect from the 1st day of April, 2005, namely :— ‘Provided also that no deduction shall be allowed in computing the income chargeable under the head \"Capital gains\" in respect of any sum paid on account of securities transaction tax under Chapter VII of the Finance (No. 2) Act, 2004.’ © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 48.</b></p><p><b>12.</b> In section 48 of the Income-tax Act, after the fourth provi­so and before the <i>Explanation</i>, the following proviso shall be inserted with effect from the 1st day of April, 2005, namely :—</p><p>‘<b>Provided</b> <b>also </b>that no deduction shall be allowed in computing the income chargeable under the head \"Capital gains\" in respect of any sum paid on account of securities transaction tax under Chapter VII of the Finance (No. 2) Act, 2004.’</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":83,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2004/section/12/","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."}