{"act":{"id":"finance-act-2009","short_title":"The Finance Act, 2009","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2009-2010.","act_number":null,"act_year":2009,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":89,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2009/"},"unit":"section","section":{"number":"14","heading":"Amendment of section 36","text":"Amendment of section 36. 14. In section 36 of the Income-tax Act, in sub-section (1),— (a ) in clause (iiia), in the Explanation, in clause (i), after the words \"public sector company\", at both the places where they occur, the words \"or scheduled bank\" shall be inserted; (b ) in clause (viii), in the Explanation, in clause (b), for sub-clause (i), the following sub-clause shall be substituted with effect from the 1st day of April, 2010, namely :— \"(i) in respect of the specified entity referred to in sub-clause (i) or sub-clause (ii) or sub-clause ( iii) or sub-clause (iv) of clause (a), the business of providing long-term finance for— (A ) industrial or agricultural development; (B ) development of infrastructure facility in India; or (C ) development of housing in India;\"; (c ) clause (xvi) shall be omitted. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 36.</b></p><p><b>14.</b> In section 36 of the Income-tax Act, in sub-section (1),—</p><p>(<i>a</i> ) in clause (<i>iiia</i>), in the <i>Explanation,</i> in clause (<i>i</i>), after the words \"public sector company\", at both the places where they occur, the words \"or scheduled bank\" shall be inserted;</p><p>(<i>b</i> ) in clause (<i>viii</i>), in the <i>Explanation,</i> in clause (<i>b</i>), for sub-clause (<i>i</i>), the following sub-clause shall be substituted with effect from the 1st day of April, 2010, namely :—</p><p>\"(<i>i</i>) in respect of the specified entity referred to in sub-clause (<i>i</i>) or sub-clause (<i>ii</i>) or sub-clause ( <i>iii</i>) or sub-clause (<i>iv</i>) of clause (<i>a</i>), the business of providing long-term finance for—</p><p>(<i>A</i> ) industrial or agricultural development;</p><p>(<i>B</i> ) development of infrastructure facility in India; or</p><p>(<i>C</i> ) development of housing in India;\";</p><p>(<i>c</i> ) clause (<i>xvi</i>) shall be omitted.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":145,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2009/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."}