{"act":{"id":"finance-act-2007","short_title":"The Finance Act, 2007","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2007-2008.","act_number":null,"act_year":2007,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":96,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2007/"},"unit":"section","section":{"number":"36","heading":"Amendment of section 115R","text":"Amendment of section 115R. 36. In section 115R of the Income-tax Act, in sub-section (2), for clauses (i) and (ii), the following clauses shall be substituted, namely:— \"(i ) twenty-five per cent on income distributed by a money market mutual fund or a liquid fund; (ii ) twelve and one-half per cent on income distributed to any person being an individual or a Hindu undivided family by a fund other than a money market mutual fund or a liquid fund; and (iii ) twenty per cent on income distributed to any other person by a fund other than a money market mutual fund or a liquid fund:\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 115R.</b></p><p><b>36.</b> In section 115R of the Income-tax Act, in sub-section (2), for clauses (<i>i</i>) and (<i>ii</i>), the following clauses shall be substituted, namely:—</p><p>\"(<i>i</i> ) twenty-five per cent on income distributed by a money market mutual fund or a liquid fund;</p><p>(<i>ii</i> ) twelve and one-half per cent on income distributed to any person being an individual or a Hindu undivided family by a fund other than a money market mutual fund or a liquid fund; and</p><p>(<i>iii</i> )<i> </i>twenty per cent on income distributed to any other person by a fund other than a money market mutual fund or a liquid fund:\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":113,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2007/section/36/","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."}