{"act":{"id":"finance-act-2010","short_title":"The Finance Act, 2010","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2010-2011.","act_number":null,"act_year":2010,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":60,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2010/"},"unit":"section","section":{"number":"52","heading":"Amendment of First Schedule","text":"Amendment of First Schedule. 52. In the First Schedule to the Income-tax Act, in rule 5, for clause (b) [as inserted by clause (ii) of section 80 of the Finance (No. 2) Act, 2009 (33 of 2009)], the following clause shall be substituted with effect from the 1st day of April, 2011, namely:— \"(b ) (i) any gain or loss on realisation of investments shall be added or deducted, as the case may be, if such gain or loss is not credited or debited to the profit and loss account; ( ii) any provision for diminution in the value of investment debited to the profit and loss account, shall be added back;\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of First Schedule.</b></p><p><b>52.</b> In the First Schedule to the Income-tax Act, in rule 5, for clause (<i>b</i>) [as inserted by clause (<i>ii</i>) of section 80 of the Finance (No. 2) Act, 2009 (33 of 2009)], the following clause shall be substituted with effect from the 1st day of April, 2011, namely:—</p><p>\"(<i>b</i> ) (<i>i</i>) any gain or loss on realisation of investments shall be added or deducted, as the case may be, if such gain or loss is not credited or debited to the profit and loss account;</p><p>( <i>ii</i>) any provision for diminution in the value of investment debited to the profit and loss account, shall be added back;\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":118,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2010/section/52/","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."}