{"act":{"id":"finance-act-2012","short_title":"The Finance Act, 2012","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2012-2013.","act_number":null,"act_year":2012,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":121,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2012/"},"unit":"section","section":{"number":"36","heading":"Insertion of new section 92BA","text":"Insertion of new section 92BA. 36. After section 92B of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2013, namely:— '92BA. Meaning of specified domestic transaction.—For the purposes of this section and sections 92, 92C, 92D and 92E, \"specified domestic transaction\" in case of an assessee means any of the following transactions, not being an international transaction, namely:— (i) any expenditure in respect of which payment has been made or is to be made to a person referred to in clause (b) of sub-section (2) of section 40A; (ii) any transaction referred to in section 80A; (iii) any transfer of goods or services referred to in sub-section (8) of section 80-IA; (iv) any business transacted between the assessee and other person as referred to in sub-section (10) of section 80-IA; (v) any transaction, referred to in any other section under Chapter Vl-A or section 10AA, to which provisions of sub-section (8) or sub-section (10) of section 80-IA are applicable; or (vi) any other transaction as may be prescribed, and where the aggregate of such transactions entered into by the assessee in the previous year exceeds a sum of five crore rupees.'. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Insertion of new section 92BA.</b></p><p><b>36.</b> After section 92B of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2013, namely:—</p><p>'92BA. <i>Meaning of specified domestic transaction.—</i>For the purposes of this section and sections 92, 92C, 92D and 92E, \"specified domestic transaction\" in case of an assessee means any of the following transactions, not being an international transaction, namely:—</p><p>(<i>i</i>) any expenditure in respect of which payment has been made or is to be made to a person referred to in clause (<i>b</i>) of sub-section (2) of section 40A;</p><p>(<i>ii</i>) any transaction referred to in section 80A;</p><p>(<i>iii</i>) any transfer of goods or services referred to in sub-section (8) of section 80-IA;</p><p>(<i>iv</i>) any business transacted between the assessee and other person as referred to in sub-section (10) of section 80-IA;</p><p>(<i>v</i>) any transaction, referred to in any other section under Chapter Vl-A or section 10AA, to which provisions of sub-section (8) or sub-section (10) of section 80-IA are applicable; or</p><p>(<i>vi</i>) any other transaction as may be prescribed,</p><p>and where the aggregate of such transactions entered into by the assessee in the previous year exceeds a sum of five crore rupees.'.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":206,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2012/section/36/","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."}