{"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":"37","heading":"Amendment of section 80-IBA","text":"Amendment of section 80-IBA. 37. In section 80-IBA of the Income-tax Act [as inserted by section 44 of the Finance Act, 2016 (28 of 2016)], with effect from the 1st day of April, 2018,— (a) | in sub-section (2),— (i) | in clause (b), for the words \"three years\", the words \"five years\" shall be substituted; (ii) | in clauses (c) and (f), for the expression \"built-up area\" wherever they occur, the words \"carpet area\" shall be substituted; (iii) | the words \"or within the distance, measured aerially, of twenty-five kilometres from the municipal limits of these cities\" wherever they occur shall be omitted; (b) | in sub-section (6), for clause (a), the following clause shall be substituted, namely:— '(a) | \"carpet area\" shall have the same meaning as assigned to it in clause (k) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016).'.","html":"<p><b> Amendment of section 80-IBA.</b></p><p><b> 37. </b>In section 80-IBA of the Income-tax Act [as inserted by section 44 of the Finance Act, 2016 (28 of 2016)], with effect from the 1st day of April, 2018,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in sub-section (2),—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in clause (<i>b</i>), for the words \"three years\", the words \"five years\" shall be substituted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>in clauses (<i>c</i>) and (<i>f</i>), for the expression \"built-up area\" wherever they occur, the words \"carpet area\" shall be substituted;</td></tr><tr><td>(<i>iii</i>)</td><td></td><td>the words \"or within the distance, measured aerially, of twenty-five kilometres from the municipal limits of these cities\" wherever they occur shall be omitted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>b</i>)</td><td></td><td>in sub-section (6), for clause (<i>a</i>), the following clause shall be substituted, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>'(<i>a</i>)</td><td></td><td>\"carpet area\" shall have the same meaning as assigned to it in clause (<i>k</i>) of section 2 of the Real Estate (Regulation and Development) Act, 2016 (16 of 2016).'.</td></tr></table></div>","words":150,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2017/section/37/","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."}