{"act":{"id":"finance-act-2018","short_title":"The Finance Act, 2018","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2018-2019.","act_number":"13","act_year":2018,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":227,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2018/"},"unit":"section","section":{"number":"14","heading":"Amendment of section 43CA","text":"Amendment of section 43CA. 14. In section 43CA of the Income-tax Act, with effect from the 1st day of April, 2019,— (a) | in sub-section (1), the following proviso shall be inserted, namely:— \"Provided that where the value adopted or assessed or assessable by the authority for the purpose of payment of stamp duty does not exceed one hundred and five per cent of the consideration received or accruing as a result of the transfer, the consideration so received or accruing as a result of the transfer shall, for the purposes of computing profits and gains from transfer of such asset, be deemed to be the full value of the consideration.\"; (b) | in sub-section (4), for the words \"by any mode other than cash\", the words \"by way of an account payee cheque or an account payee bank draft or by use of electronic clearing system through a bank account\" shall be substituted.","html":"<p><b>Amendment of section 43CA.</b></p><p><b>14.</b> In section 43CA of the Income-tax Act, with effect from the 1st day of April, 2019,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in sub-section (1), the following proviso shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"<b>Provided</b> that where the value adopted or assessed or assessable by the authority for the purpose of payment of stamp duty does not exceed one hundred and five per cent of the consideration received or accruing as a result of the transfer, the consideration so received or accruing as a result of the transfer shall, for the purposes of computing profits and gains from transfer of such asset, be deemed to be the full value of the consideration.\";</td></tr><tr><td>(<i>b</i>)</td><td></td><td>in sub-section (4), for the words \"by any mode other than cash\", the words \"by way of an account payee cheque or an account payee bank draft or by use of electronic clearing system through a bank account\" shall be substituted.</td></tr></table></div>","words":154,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2018/section/14/","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."}