{"act":{"id":"finance-act-2019-no-1","short_title":"The Finance Act, 2019 (No. 1)","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2019-2020.","act_number":null,"act_year":2019,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":22,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-1/"},"unit":"section","section":{"number":"17","heading":"Amendment of section 29","text":"Amendment of section 29 17. In section 29 of the principal Act,— (i) | in clause (a),— (a) | the words, figures and brackets \"No. 27 (Debenture)\" shall be omitted; (b) | the words, figures, brackets and letter \"No. 62 (a) (Transfer of shares in an incorporated Company or other body corporate)\" shall be omitted; (c) | the words, figures, brackets and letter \"No. 62 (b) (Transfer of debentures, being marketable securities, whether the debenture is liable to duty or not, except debentures provided for by section 8)\" shall be omitted; (ii) | in clause (e), after the word \"exchange\", the words \"including swap\" shall be inserted; (iii) | in clause (f), the word \"and\" shall be omitted; (iv) | after clause (g), the following clauses shall be inserted, namely:— \"(h) in the case of sale of security through stock exchange, by the buyer of such security; (i) in the case of sale of security otherwise than through a stock exchange, by the seller of such security; (j) in the case of transfer of security through a depository, by the transferor of such security; (k) in the case of transfer of security otherwise than through a stock exchange or depositiory, by the transferor of such security; (l) in the case of issue of security, whether through a stock exchange or a depository or otherwise, by the issuer of such security; and (m) in the case of any other instrument not specified herein, by the person making, drawing or executing such instrument.\".","html":"<p><b>Amendment of section 29</b></p><p><b>17. </b>In section 29 of the principal Act,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in clause (<i>a</i>),—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>the words, figures and brackets \"No. 27 (Debenture)\" shall be omitted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>the words, figures, brackets and letter \"No. 62 (<i>a</i>) (Transfer of shares in an incorporated Company or other body corporate)\" shall be omitted;</td></tr><tr><td>(<i>c</i>)</td><td></td><td>the words, figures, brackets and letter \"No. 62 (<i>b</i>) (Transfer of debentures, being marketable securities, whether the debenture is liable to duty or not, except debentures provided for by section 8)\" shall be omitted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>ii</i>)</td><td></td><td>in clause (<i>e</i>), after the word \"exchange\", the words \"including swap\" shall be inserted;</td></tr><tr><td>(<i>iii</i>)</td><td></td><td>in clause (<i>f</i>), the word \"and\" shall be omitted;</td></tr><tr><td>(<i>iv</i>)</td><td></td><td>after clause (<i>g</i>), the following clauses shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"(<i>h</i>) in the case of sale of security through stock exchange, by the buyer of such security;</td></tr><tr><td></td><td></td><td>(<i>i</i>) in the case of sale of security otherwise than through a stock exchange, by the seller of such security;</td></tr><tr><td></td><td></td><td>(<i>j</i>) in the case of transfer of security through a depository, by the transferor of such security;</td></tr><tr><td></td><td></td><td>(<i>k</i>) in the case of transfer of security otherwise than through a stock exchange or depositiory, by the transferor of such security;</td></tr><tr><td></td><td></td><td>(<i>l</i>) in the case of issue of security, whether through a stock exchange or a depository or otherwise, by the issuer of such security; and</td></tr><tr><td></td><td></td><td>(<i>m</i>) in the case of any other instrument not specified herein, by the person making, drawing or executing such instrument.\".</td></tr></table></div>","words":251,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-1/section/17/","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."}