{"act":{"id":"finance-act-2016","short_title":"The Finance Act, 2016","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2016-2017.","act_number":null,"act_year":2016,"enact_date":"2016-06-27","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":276,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2016/"},"unit":"section","section":{"number":"4","heading":"Amendment of section 6","text":"Amendment of section 6. 4. In section 6 of the Income-tax Act, for clause (3), the following clause shall be substituted with effect from the 1st day of April, 2017, namely:— '(3) A company is said to be a resident in India in any previous year, if— (i) | it is an Indian company; or (ii) | its place of effective management, in that year, is in India. Explanation.—For the purposes of this clause \"place of effective management\" means a place where key management and commercial decisions that are necessary for the conduct of business of an entity as a whole are, in substance made.'.","html":"<p><b>Amendment of section 6.</b></p><p><b>4.</b> In section 6 of the Income-tax Act, for clause (<i>3</i>), the following clause shall be substituted with effect from the 1st day of April, 2017, namely:—</p><p>'(3) A company is said to be a resident in India in any previous year, if—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>it is an Indian company; or</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>its place of effective management, in that year, is in India.</td></tr></table></div><p><i>Explanation.—</i>For the purposes of this clause \"place of effective management\" means a place where key management and commercial decisions that are necessary for the conduct of business of an entity as a whole are, in substance made.'.</p>","words":105,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2016/section/4/","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."}