{"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":"9","heading":"Amendment of section 36","text":"Amendment of section 36. 9. In section 36 of the Income-tax Act, in sub-section (1),— (a ) for clause (ib), the following clause shall be substituted with effect from the 1st day of April, 2007, namely:— \"(ib) the amount of any premium paid by cheque by the assessee as an employer to effect or to keep in force an insurance on the health of his employees under a scheme framed in this behalf by— (A ) the General Insurance Corporation of India formed under section 9 of the General Insurance Business (Nationali-sation) Act, 1972 (57 of 1972) and approved by the Central Government; or (B ) any other insurer and approved by the Insurance Regulatory and Development Authority established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);\"; (b ) in clause (iiia), in the Explanation, clause (iii) shall be omitted; (c ) in clause (viii), in the Explanation, for clause (d), the following clause shall be substituted with effect from the 1st day of April, 2007, namely:— ‘(d) \"infrastructure facility\" means— (i ) an infrastructure facility as defined in the Explanation to clause (i) of sub-section (4) of section 80-IA, or any other public facility of a similar nature as may be notified by the Board in this behalf in the Official Gazette and which fulfils the conditions as may be prescribed; (ii ) an undertaking referred to in clause (ii ) or clause (iii) or clause (iv) of sub-section (4) of section 80-IA; and (iii ) an undertaking referred to in sub-section (10) of section 80-IB;’. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 36.</b></p><p><b>9.</b> In section 36 of the Income-tax Act, in sub-section (1),—</p><p>(<i>a</i> ) for clause (<i>ib</i>), the following clause shall be substituted with effect from the 1st day of April, 2007, namely:—</p><p>\"(<i>ib</i>) the amount of any premium paid by cheque by the assessee as an employer to effect or to keep in force an insurance on the health of his employees under a scheme framed in this behalf by—</p><p>(<i>A</i> ) the General Insurance Corporation of India formed under section 9 of the General Insurance Business (Nationali-sation) Act, 1972 (57 of 1972) and approved by the Central Government; or</p><p>(<i>B</i> ) any other insurer and approved by the Insurance Regulatory and Development Authority established under sub-section (1) of section 3 of the Insurance Regulatory and Development Authority Act, 1999 (41 of 1999);\";</p><p>(<i>b</i> ) in clause (<i>iiia</i>), in the <i>Explanation</i>, clause (<i>iii</i>) shall be omitted;</p><p>(<i>c</i> ) in clause (<i>viii</i>), in the <i>Explanation</i>, for clause (<i>d</i>), the following clause shall be substituted with effect from the 1st day of April, 2007, namely:—</p><p>‘(<i>d</i>) \"infrastructure facility\" means—</p><p>(<i>i</i> ) an infrastructure facility as defined in the <i>Explanation</i> to clause (<i>i</i>) of sub-section (4) of section 80-IA, or any other public facility of a similar nature as may be notified by the Board in this behalf in the Official Gazette and which fulfils the conditions as may be prescribed;</p><p>(<i>ii</i> ) an undertaking referred to in clause (<i>ii</i> ) or clause (<i>iii</i>) or clause (<i>iv</i>) of sub-section (4) of section 80-IA; and</p><p>(<i>iii</i> ) an undertaking referred to in sub-section (10) of section 80-IB;’.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":273,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2006/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."}