{"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":"59","heading":"Amendment of section 194LBA","text":"Amendment of section 194LBA. 59. In section 194LC of the Income-tax Act, with effect from the 1st day of October, 2014,— (A) | in sub-section (1), after the words \"by a specified company\", the words \"or a business trust\" shall be inserted; (B) | in sub-section (2),— (a) | in the opening portion, after the words \"by the specified company\", the words \"or the business trust\" shall be inserted; (b) | for clause (i), the following clause shall be substituted, namely:— \"(i) | in respect of monies borrowed by it in foreign currency from a source outside India,— (a) | under a loan agreement at any time on or after the 1st day of July, 2012 but before the 1st day of July, 2017; or (b) | by way of issue of long-term infrastructure bonds at any time on or after the 1st day of July, 2012 but before the 1st day of October, 2014; or (c) | by way of issue of any long-term bond including long-term infrastructure bond at any time on or after the 1st day of October, 2014 but before the 1st day of July, 2017, as approved by the Central Government in this behalf; and\". © Copyright. Taxmann Publications Pvt. Ltd.","html":" Amendment of section 194LBA.
59. In section 194LC of the Income-tax Act, with effect from the 1st day of October, 2014,—
| (A) | | in sub-section (1), after the words \"by a specified company\", the words \"or a business trust\" shall be inserted; |
| (B) | | in sub-section (2),— |
| (a) | | in the opening portion, after the words \"by the specified company\", the words \"or the business trust\" shall be inserted; |
| (b) | | for clause (i), the following clause shall be substituted, namely:— |
| \"(i) | | in respect of monies borrowed by it in foreign currency from a source outside India,— |
| (a) | | under a loan agreement at any time on or after the 1st day of July, 2012 but before the 1st day of July, 2017; or |
| (b) | | by way of issue of long-term infrastructure bonds at any time on or after the 1st day of July, 2012 but before the 1st day of October, 2014; or |
| (c) | | by way of issue of any long-term bond including long-term infrastructure bond at any time on or after the 1st day of October, 2014 but before the 1st day of July, 2017, |
| | as approved by the Central Government in this behalf; and\". |
© Copyright. Taxmann Publications Pvt. Ltd.
","words":206,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2014/section/59/","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."}