{"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":"44","heading":"Amendment of section 139A","text":"Amendment of section 139A. 44. In section 139A of the Income-tax Act,— (A) | in sub-section (1),— (a) | in clause (iv), the word \"or\" shall be inserted at the end; (b) | after clause (iv), the following clauses shall be inserted, namely:— \"(v) | being a resident, other than an individual, which enters into a financial transaction of an amount aggregating to two lakh fifty thousand rupees or more in a financial year; or (vi) | who is the managing director, director, partner, trustee, author, founder, karta, chief executive officer, principal officer or office bearer of the person referred to in clause (v) or any person competent to act on behalf of the person referred to in clause (v),\"; (B) | in the Explanation occurring after sub-section (8), in clause (c), the words \"and issued in the form of a laminated card\" shall be omitted.","html":"<p><b> Amendment of section 139A.</b></p><p><b> 44.</b> In section 139A of the Income-tax Act,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>A</i>)</td><td></td><td>in sub-section (1),—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in clause (<i>iv</i>), the word \"or\" shall be inserted at the end;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>after clause (<i>iv</i>), the following clauses shall be inserted, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>\"(<i>v</i>)</td><td></td><td>being a resident, other than an individual, which enters into a financial transaction of an amount aggregating to two lakh fifty thousand rupees or more in a financial year; or</td></tr><tr><td>(<i>vi</i>)</td><td></td><td>who is the managing director, director, partner, trustee, author, founder, <i>karta</i>, chief executive officer, principal officer or office bearer of the person referred to in clause (<i>v</i>) or any person competent to act on behalf of the person referred to in clause (<i>v</i>),\";</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>B</i>)</td><td></td><td>in the <i>Explanation</i> occurring after sub-section (8), in clause (<i>c</i>), the words \"and issued in the form of a laminated card\" shall be omitted.</td></tr></table></div>","words":146,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2018/section/44/","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."}