{"act":{"id":"finance-act-2005","short_title":"The Finance Act, 2005","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2005-2006.","act_number":"18","act_year":2005,"enact_date":"2005-05-13","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":70,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2005/"},"unit":"section","section":{"number":"34","heading":"Amendment of section 115A","text":"Amendment of section 115A. 34. In section 115A of the Income-tax Act, in sub-section (1), in clause (b)  with effect from the 1st day of April, 2006,— (i ) in sub-clause (A) , for the words, figures and letters \"agreement made after the 31st day of May, 1997\", the words, figures and letters \"agreement made after the 31st day of May, 1997 but before the 1st day of June, 2005\" shall be substituted; (ii ) after sub-clause (A) , the following sub-clause shall be inserted, namely:— \"(AA )  the amount of income-tax calculated on the income by way of royalty, if any, included in the total income, at the rate of ten per cent if such royalty is received in pursuance of an agreement made on or after the 1st day of June, 2005;\"; (iii ) in sub-clause (B), for the words, figures and letters \"agreement made after the 31st day of May, 1997; and\", the words, figures and letters \"agreement made after the 31st day of May, 1997 but before the 1st day of June, 2005;\" shall be substituted; (iv ) after sub-clause (B), the following sub-clause shall be inserted, namely:— \"(BB )  the amount of income-tax calculated on the income by way of fees for technical services, if any, included in the total income, at the rate of ten per cent if such fees for technical services are received in pursuance of an agreement made on or after the 1st day of June, 2005; and\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 115A.</b></p><p><b>34. </b>In section 115A of the Income-tax Act, in sub-section (1), in clause (<i>b</i>) <i> </i>with effect from the 1st day of April, 2006,—</p><p>(<i>i</i> ) in sub-clause (<i>A</i>) <i>, </i>for the words, figures and letters \"agreement made after the 31st day of May, 1997\", the words, figures and letters \"agreement made after the 31st day of May, 1997 but before the 1st day of June, 2005\" shall be substituted;</p><p>(<i>ii</i> ) after sub-clause (<i>A</i>) <i>, </i>the following sub-clause shall be inserted, namely:—</p><p><i> </i>\"(<i>AA</i> )<i> </i> the amount of income-tax calculated on the income by way of royalty, if any, included in the total income, at the rate of ten per cent if such royalty is received in pursuance of an agreement made on or after the 1st day of June, 2005;\";</p><p>(<i>iii</i> ) in sub-clause (<i>B</i>), for the words, figures and letters \"agreement made after the 31st day of May, 1997; and\", the words, figures and letters \"agreement made after the 31st day of May, 1997 but before the 1st day of June, 2005;\" shall be substituted;</p><p>(<i>iv</i> ) after sub-clause (<i>B</i>), the following sub-clause shall be inserted, namely:—</p><p><i> </i>\"(<i>BB</i> )<i> </i> the amount of income-tax calculated on the income by way of fees for technical services, if any, included in the total income, at the rate of ten per cent if such fees for technical services are received in pursuance of an agreement made on or after the 1st day of June, 2005; and\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":253,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2005/section/34/","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."}