{"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":"81","heading":"Amendment of Second Schedule","text":"Amendment of Second Schedule. 81. In the Second Schedule to the Income-tax Act, with effect from the 1st day of April, 2008,— (a ) in rule 60, in sub-rule (1), in clause (a), for the words \"fifteen per cent per annum\", the words \"one and one-fourth per cent for every month or part of a month\" shall be substituted; (b ) in rule 68A, in sub-rule (3), for the words \"six per cent per annum\", the words \"one-half per cent for every month or part of a month\" shall be substituted. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of Second Schedule.</b></p><p><b>81.</b> In the Second Schedule to the Income-tax Act, with effect from the 1st day of April, 2008,—</p><p>(<i>a</i> ) in rule 60, in sub-rule (1),<i> </i>in clause (<i>a</i>), for the words \"fifteen per cent per annum\", the words \"one and one-fourth per cent for every month or part of a month\" shall be substituted;</p><p>(<i>b</i> ) in rule 68A, in sub-rule (3), for the words \"six per cent per annum\", the words \"one-half per cent for every month or part of a month\" shall be substituted.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":97,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2007/section/81/","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."}