{"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":"49","heading":"Amendment of section 194A","text":"Amendment of section 194A. 49. In section 194A of the Income-tax Act, in sub-section (3), in clause (i), after the second proviso, the following shall be inserted, namely:— 'Provided also that in case of payee being a senior citizen, the provisions of sub-clause (a), sub-clause (b), and sub-clause (c) shall have effect as if for the words \"ten thousand rupees\", the words \"fifty thousand rupees\" had been substituted. Explanation.—For the purposes of this clause, \"senior citizen\" means an individual resident in India who is of the age of sixty years or more at any time during the relevant previous year;'.","html":"<p><b> Amendment of section 194A.</b></p><p><b> 49.</b> In section 194A of the Income-tax Act, in sub-section (3), in clause (<i>i</i>), after the second proviso, the following shall be inserted, namely:—</p><p>'<b>Provided also </b>that in case of payee being a senior citizen, the provisions of sub-clause (<i>a</i>), sub-clause (<i>b</i>), and sub-clause (<i>c</i>) shall have effect as if for the words \"ten thousand rupees\", the words \"fifty thousand rupees\" had been substituted.</p><p><i>Explanation</i>.—For the purposes of this clause, \"senior citizen\" means an individual resident in India who is of the age of sixty years or more at any time during the relevant previous year;'.</p>","words":100,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2018/section/49/","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."}