{"act":{"id":"finance-act-2014","short_title":"The Finance Act, 2014","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2014-2015.","act_number":"25","act_year":2014,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":129,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2014/"},"unit":"section","section":{"number":"52","heading":"Amendment of section 145","text":"Amendment of section 145. 52. In section 145 of the Income-tax Act, with effect from the 1st day of April, 2015,— (i) | in sub-section (2), for the words \"accounting standards\", the words \"income computation and disclosure standards\" shall be substituted; (ii) | in sub-section (3), for the words, brackets and figure \"or accounting standards as notified under sub-section (2), have not been regularly followed by the assessee\", the words, brackets and figure \"has not been regularly followed by the assessee, or income has not been computed in accordance with the standards notified under sub-section (2)\" shall be substituted. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 145.</b></p><p><b>52.</b> In section 145 of the Income-tax Act, with effect from the 1st day of April, 2015,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in sub-section (2), for the words \"accounting standards\", the words \"income computation and disclosure standards\" shall be substituted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>in sub-section (3), for the words, brackets and figure \"or accounting standards as notified under sub-section (2), have not been regularly followed by the assessee\", the words, brackets and figure \"has not been regularly followed by the assessee, or income has not been computed in accordance with the standards notified under sub-section (2)\" shall be substituted.</td></tr></table></div><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":105,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2014/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."}