{"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":"164","heading":"Amendment of section 4","text":"Amendment of section 4 164. In section 4 of the principal Act,— (a) | in sub-section (1), for the proviso, the following proviso shall be substituted, namely:— \"Provided that the Central Government may, by notification, increase the authorised capital up to two thousand crore rupees or such other amount as may be determined by it from time to time.\"; (b) | in sub-section (2), the words \"the Reserve Bank,\" occurring at both the places shall be omitted; (c) | after sub-section (2), the following sub-section shall be inserted, namely:— \"(3) The subscribed capital of one thousand four hundred and fifty crore rupees of the National Housing Bank, which has been subscribed to by the Reserve Bank, shall stand transferred to, and vested in the Central Government upon payment of the face value of the subscribed capital, to the Reserve Bank from such date as may be notified by the Central Government.\".","html":"<p><b>Amendment of section 4</b></p><p><b>164. </b>In section 4 of the principal Act,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in sub-section (1), for the proviso, the following proviso shall be substituted, namely:—</td></tr><tr><td></td><td></td><td><b>\"Provided</b> that the Central Government may, by notification, increase the authorised capital up to two thousand crore rupees or such other amount as may be determined by it from time to time.\";</td></tr><tr><td>(<i>b</i>)</td><td></td><td>in sub-section (2), the words \"the Reserve Bank,\" occurring at both the places shall be omitted;</td></tr><tr><td>(<i>c</i>)</td><td></td><td>after sub-section (2), the following sub-section shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"(<i>3</i>) The subscribed capital of one thousand four hundred and fifty crore rupees of the National Housing Bank, which has been subscribed to by the Reserve Bank, shall stand transferred to, and vested in the Central Government upon payment of the face value of the subscribed capital, to the Reserve Bank from such date as may be notified by the Central Government.\".</td></tr></table></div>","words":151,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2018/section/164/","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."}