{"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":"19","heading":"Amendment of section 44AB","text":"Amendment of section 44AB. 19. In section 44AB of the Income-tax Act, with effect from the 1st day of April, 2011,— (a ) in clause (c),— (i) for the words, figures and letters \"section 44AD or section 44AE or section 44AF\", the word, figures and letters \"section 44AE\" shall be substituted; (ii) for the words \"previous year,\" occurring at the end, the words \"previous year; or\" shall be substituted; (b ) after clause (c), the following clause shall be insert­ed, namely :— \"(d) carrying on the business shall, if the profits and gains from the business are deemed to be the profits and gains of such person under section 44AD and he has claimed such income to be lower than the profits and gains so deemed to be the profits and gains of his business and his income exceeds the maximum amount which is not chargeable to income-tax in any previous year.\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 44AB.</b></p><p><b>19.</b> In section 44AB of the Income-tax Act, with effect from the 1st day of April, 2011,—</p><p>(<i>a</i> ) in clause (<i>c</i>),—</p><p>(<i>i</i>) for the words, figures and letters \"section 44AD or section 44AE or section 44AF\", the word, figures and letters \"section 44AE\" shall be substituted;</p><p>(<i>ii</i>) for the words \"previous year,\" occurring at the end, the words \"previous year; or\" shall be substituted;</p><p>(<i>b</i> ) after clause (<i>c</i>), the following clause shall be insert­ed, namely :—</p><p>\"(<i>d</i>) carrying on the business shall, if the profits and gains from the business are deemed to be the profits and gains of such person under section 44AD and he has claimed such income to be lower than the profits and gains so deemed to be the profits and gains of his business and his income exceeds the maximum amount which is not chargeable to income-tax in any previous year.\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":158,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2009/section/19/","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."}