{"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":"72","heading":"Amendment of section 193","text":"Amendment of section 193. 72. In section 193 of the Income-tax Act, in the proviso, for clause (v), the following clause shall be substituted with effect from the 1st day of July, 2012, namely:— \"(v) any interest payable to an individual or a Hindu undivided family, who is resident in India, on any debenture issued by a company in which the public are substantially interested, if— (a) the amount of interest or, as the case may be, the aggregate amount of such interest paid or likely to be paid on such debenture during the financial year by the company to such individual or Hindu undivided family does not exceed five thousand rupees; and (b) such interest is paid by the company by an account payee cheque;\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 193.</b></p><p><b>72.</b> In section 193 of the Income-tax Act, in the proviso, for clause (<i>v</i>)<i>, </i>the following clause shall be substituted with effect from the 1st day of July, 2012, namely:—</p><p>\"(<i>v</i>) any interest payable to an individual or a Hindu undivided family, who is resident in India, on any debenture issued by a company in which the public are substantially interested, if—</p><p>(<i>a</i>) the amount of interest or, as the case may be, the aggregate amount of such interest paid or likely to be paid on such debenture during the financial year by the company to such individual or Hindu undivided family does not exceed five thousand rupees; and</p><p>(<i>b</i>) such interest is paid by the company by an account payee cheque;\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":132,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2012/section/72/","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."}