{"act":{"id":"finance-act-2008","short_title":"The Finance Act, 2008","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2008-2009.","act_number":null,"act_year":2008,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":71,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2008/"},"unit":"section","section":{"number":"14","heading":"Amendment of section 47","text":"Amendment of section 47. 14. In section 47 of the Income-tax Act,— (a ) after clause (x), the following clause shall be inserted, namely:— \"(xa) any transfer by way of conversion of bonds referred to in clause (a) of sub-section (1) of section 115AC into shares or debentures of any company;\"; (b ) after clause (xv), the following clause shall be inserted, namely:— \"(xvi) any transfer of a capital asset in a transaction of reverse mortgage under a scheme made and notified by the Central Government.\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 47.</b></p><p><b>14.</b> In section 47 of the Income-tax Act,—</p><p>(<i>a</i> ) after clause (<i>x</i>), the following clause shall be inserted, namely:—</p><p>\"(<i>xa</i>) any transfer by way of conversion of bonds referred to in clause (<i>a</i>) of sub-section (1) of section 115AC into shares or debentures of any company;\";</p><p>(<i>b</i> ) after clause (<i>xv</i>), the following clause shall be inserted, namely:—</p><p>\"(<i>xvi</i>) any transfer of a capital asset in a transaction of reverse mortgage under a scheme made and notified by the Central Government.\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":92,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2008/section/14/","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."}