{"act":{"id":"finance-act-2017","short_title":"The Finance Act, 2017","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2017-2018.","act_number":null,"act_year":2017,"enact_date":"2017-04-17","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":198,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2017/"},"unit":"section","section":{"number":"20","heading":"Amendment of section 44AB","text":"Amendment of section 44AB. 20. In section 44AB of the Income-tax Act,— (i) | before the first proviso, the following proviso shall be inserted, namely:— \"Provided that this section shall not apply to the person, who declares profits and gains for the previous year in accordance with the provisions of sub-section (1) of section 44AD and his total sales, turnover or gross receipts, as the case may be, in business does not exceed two crore rupees in such previous year:\"; (ii) | in the first proviso, for the words \"Provided that\", the words \"Provided further that\" shall be substituted; (iii) | in the second proviso, for the words \"Provided further\", the words \"Provided also\" shall be substituted.","html":"<p><b> Amendment of section 44AB.</b></p><p><b> 20. </b>In section 44AB of the Income-tax Act,<i>—</i></p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>before the first proviso, the following proviso shall be inserted, namely:<i>—</i></td></tr><tr><td></td><td></td><td>\"<b>Provided </b>that this section shall not apply to the person, who declares profits and gains for the previous year in accordance with the provisions of sub-section (1) of section 44AD and his total sales, turnover or gross receipts, as the case may be, in business does not exceed two crore rupees in such previous year:\";</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>in the first proviso, for the words \"Provided that\", the words \"Provided further that\" shall be substituted;</td></tr><tr><td>(<i>iii</i>)</td><td></td><td>in the second proviso, for the words \"Provided further\", the words \"Provided also\" shall be substituted.</td></tr></table></div>","words":117,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2017/section/20/","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."}