{"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":"30","heading":"Amendment of section 80CCD","text":"Amendment of section 80CCD. 30. In section 80CCD of the Income-tax Act,— (a ) in sub-section (1),— (i) in the opening portion, after the words, figures and letters \"Where an assessee, being an individual employed by the Central Government or any other employer on or after the 1st day of January, 2004,\", the words \"or any other assessee, being an individual\" shall be inserted; (ii) for the words \"as does not exceed ten per cent of his salary in the previous year\", the following words shall be substituted, namely:— \"as does not exceed,— (a ) in the case of an employee, ten per cent of his salary in the previous year; and (b ) in any other case, ten per cent of his gross total income in the previous year;\"; (b ) after sub-section (4), the following sub-section shall be inserted, namely:— \"(5) For the purposes of this section, the assessee shall be deemed not to have received any amount in the previous year if such amount is used for purchasing an annuity plan in the same previous year.\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 80CCD.</b></p><p><b>30.</b> In section 80CCD of the Income-tax Act,—</p><p>(<i>a</i> ) in sub-section (1),—</p><p>(<i>i</i>) in the opening portion, after the words, figures and letters \"Where an assessee, being an individual employed by the Central Government or any other employer on or after the 1st day of January, 2004,\", the words \"or any other assessee, being an individual\" shall be inserted;</p><p>(<i>ii</i>) for the words \"as does not exceed ten per cent of his salary in the previous year\", the following words shall be substituted, namely:—</p><p>\"as does not exceed,—</p><p>(<i>a</i> ) in the case of an employee, ten per cent of his salary in the previous year; and</p><p>(<i>b</i> ) in any other case, ten per cent of his gross total income in the previous year;\";</p><p>(<i>b</i> ) after sub-section (4), the following sub-section shall be inserted, namely:—</p><p>\"(5) For the purposes of this section, the assessee shall be deemed not to have received any amount in the previous year if such amount is used for purchasing an annuity plan in the same previous year.\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":185,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2009/section/30/","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."}