{"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":"68","heading":"Amendment of section 194LC","text":"Amendment of section 194LC. 68. In section 194LC of the Income-tax Act, in sub-section (2),— (a) | in clause (i), with effect from the 1st day of April, 2018,— (A) | in sub-clauses (a) and (c), for the figures, letters and words \"1st day of July, 2017\", the figures, letters and words \"1st day of July, 2020\" shall be substituted; (B) | in the long line, for the word \"and\", the word \"or\" shall be substituted; (b) | after clause (i), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2016, namely:— \"(ia) | in respect of monies borrowed by it from a source outside India by way of issue of rupee denominated bond before the 1st day of July, 2020, and\".","html":"<p><b> Amendment of section 194LC.</b></p><p><b> 68.</b> In section 194LC of the Income-tax Act, in sub-section (2),<i>—</i></p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in clause (<i>i</i>), with effect from the 1st day of April, 2018,<i>—</i></td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>A</i>)</td><td></td><td>in sub-clauses (<i>a</i>) and (<i>c</i>), for the figures, letters and words \"1st day of July, 2017\", the figures, letters and words \"1st day of July, 2020\" shall be substituted;</td></tr><tr><td>(<i>B</i>)</td><td></td><td>in the long line, for the word \"and\", the word \"or\" shall be substituted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>b</i>)</td><td></td><td>after clause (<i>i</i>), the following clause shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 2016, namely:<i>—</i></td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>\"(<i>ia</i>)</td><td></td><td>in respect of monies borrowed by it from a source outside India by way of issue of rupee denominated bond before the 1st day of July, 2020, and\".</td></tr></table></div>","words":135,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2017/section/68/","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."}