{"act":{"id":"finance-act-2011","short_title":"The Finance Act, 2011","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2011-2012.","act_number":null,"act_year":2011,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":36,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2011/"},"unit":"section","section":{"number":"16","heading":"Amendment of section 115A","text":"Amendment of section 115A. 16. In section 115A of the Income-tax Act, in sub-section (1), in clause (a),  with effect from the 1st day of June, 2011,— (a ) in sub-clause (ii) , after the words \"foreign currency\", the words, brackets, figures and letter \"not being interest of the nature referred to in clause (iia )\" shall be inserted; (b ) after sub-clause (ii) , the following sub-clause shall be inserted, namely:— \"(iia ) interest received from an infrastructure debt fund referred to in clause (47)  of section 10; or\"; (c ) after item (B),  the following item shall be inserted, namely:— \"(BA ) the amount of income-tax calculated on the amount of income by way of interest referred to in sub-clause (iia) , if any, included in the total income, at the rate of five per cent;\"; (d ) in item (D),  after the word, brackets and figures \"sub-clause (ii )\", the word, brackets, figures and letter \", sub-clause (iia)\"  shall be inserted. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 115A.</b></p><p><b>16.</b> In section 115A of the Income-tax Act, in sub-section (1)<i>, </i>in clause (<i>a</i>)<i>, </i> with effect from the 1st day of June, 2011,—</p><p>(<i>a</i> ) in sub-clause (<i>ii</i>) <i>, </i>after the words \"foreign currency\", the words, brackets, figures and letter \"not being interest of the nature referred to in clause (<i>iia</i> )\" shall be inserted;</p><p>(<i>b</i> ) after sub-clause (<i>ii</i>) <i>, </i>the following sub-clause shall be inserted, namely:—</p><p><i> </i>\"(<i>iia</i> )<i> </i>interest received from an infrastructure debt fund referred to in clause (<i>47</i>)<i> </i> of section 10; or\";</p><p>(<i>c</i> )<i> </i>after item (<i>B</i>)<i>, </i> the following item shall be inserted, namely:—</p><p><i> </i>\"(<i>BA</i> )<i> </i>the amount of income-tax calculated on the amount of income by way of interest referred to in sub-clause (<i>iia</i>) <i>, </i>if any, included in the total income, at the rate of five per cent;\";</p><p>(<i>d</i> )<i> </i>in item (<i>D</i>)<i>, </i> after the word, brackets and figures \"sub-clause (<i>ii</i> )\"<i>, </i>the word, brackets, figures and letter \", sub-clause (<i>iia</i>)\" <i> </i>shall be inserted.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":170,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2011/section/16/","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."}