{"act":{"id":"finance-act-2006","short_title":"The Finance Act, 2006","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2006-2007.","act_number":null,"act_year":2006,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":66,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2006/"},"unit":"section","section":{"number":"10","heading":"Amendment of section 40","text":"Amendment of section 40. 10. In section 40 of the Income-tax Act, in clause (a), after sub-clause (ii),— (a ) the following Explanation shall be inserted, namely:— \" Explanation 1.—For the removal of doubts, it is hereby declared that for the purposes of this sub-clause, any sum paid on account of any rate or tax levied includes and shall be deemed always to have included any sum eligible for relief of tax under section 90 or, as the case may be, deduction from the Indian income-tax payable under section 91.\"; (b ) after Explanation 1 as so inserted, the following Explanation shall be inserted with effect from the 1st day of June, 2006, namely:— \" Explanation 2.—For the removal of doubts, it is hereby declared that for the purposes of this sub-clause, any sum paid on account of any rate or tax levied includes any sum eligible for relief of tax under section 90A;\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 40.</b></p><p><b>10.</b> In section 40 of the Income-tax Act, in clause (<i>a</i>), after sub-clause (<i>ii</i>),—</p><p>(<i>a</i> ) the following <i>Explanation</i> shall be inserted, namely:—</p><p>\" <i>Explanation 1.</i>—For the removal of doubts, it is hereby declared that for the purposes of this sub-clause, any sum paid on account of any rate or tax levied includes and shall be deemed always to have included any sum eligible for relief of tax under section 90 or, as the case may be, deduction from the Indian income-tax payable under section 91.\";</p><p>(<i>b</i> ) after <i>Explanation</i> <i>1</i> as so inserted, the following <i>Explanation</i> shall be inserted with effect from the 1st day of June, 2006, namely:—</p><p>\" <i>Explanation 2.</i>—For the removal of doubts, it is hereby declared that for the purposes of this sub-clause, any sum paid on account of any rate or tax levied includes any sum eligible for relief of tax under section 90A;\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":160,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2006/section/10/","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."}