{"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":"21","heading":"Amendment of Schedule I","text":"Amendment of Schedule I 21. In Schedule I of the principal Act,— (i) | in Article 19, in column (1),— (a) | after the words \"CERTIFICATE OR OTHER DOCUMENT\", the brackets, words, figures and letter \"(except the certificate or other document covered under Articles 27 and 56A)\" shall be inserted; (b) | the words, brackets and figures \"See also LETTER OF ALLOTMENT OF SHARES (No. 36)\" shall be omitted; (ii) | for Article 27 and the entries relating thereto, the following Article and entries shall be substituted, namely:— (1) | (2) \"27. DEBENTURE—[as defined by section 2 (10A)] (see sections 9A and 9B) (a) in case of issue of debenture; | 0.005% (b) in case of transfer and re-issue of debenture. | 0.0001%\"; (iii) | in Article 28, for the entry in column (1), after the words \"DELIVERY ORDER IN RESPECT OF GOODS,\", the brackets and words \"(excluding delivery order in respect of settlement of transactions in securities in stock exchange)\" shall be inserted; (iv) | in Article 36, for the entry in column (1), the following entry shall be substituted, namely:— \"36. LETTER OF ALLOTMENT in respect of any loan to be raised by any company or proposed company.\"; (v) | after Article 56 and the entry relating thereto, the following Article and entries shall be inserted, namely:— (1) | (2) \"56A. SECURITY OTHER THAN DEBENTURES (see sections 9A and 9B)— (a) issue of security other than debenture; | 0.005% (b) transfer of security other than debenture on delivery basis; | 0.015% (c) transfer of security other than debenture on non-delivery basis; | 0.003% (d) derivatives— (i) futures (equity and commodity) | 0.002% (ii) options (equity and commodity) | 0.003% (iii) currency and interest rate derivatives | 0.0001% (iv) other derivatives | 0.002% (e) Government securities | 0% (f) repo on corporate bonds | 0.00001%\"; (vi ) | in Article 62, items (a) and (b) and the entries relating thereto shall be omitted.","html":"

Amendment of Schedule I

21. In Schedule I of the principal Act,—

(i)in Article 19, in column (1),—
(a)after the words \"CERTIFICATE OR OTHER DOCUMENT\", the brackets, words, figures and letter \"(except the certificate or other document covered under Articles 27 and 56A)\" shall be inserted;
(b)the words, brackets and figures \"See also LETTER OF ALLOTMENT OF SHARES (No. 36)\" shall be omitted;
(ii)for Article 27 and the entries relating thereto, the following Article and entries shall be substituted, namely:—
(1)(2)
\"27. DEBENTURE—[as defined by section 2 (10A)] (see sections 9A and 9B)
(a) in case of issue of debenture;0.005%
(b) in case of transfer and re-issue of debenture.0.0001%\";
(iii)in Article 28, for the entry in column (1), after the words \"DELIVERY ORDER IN RESPECT OF GOODS,\", the brackets and words \"(excluding delivery order in respect of settlement of transactions in securities in stock exchange)\" shall be inserted;
(iv)in Article 36, for the entry in column (1), the following entry shall be substituted, namely:—
\"36. LETTER OF ALLOTMENT in respect of any loan to be raised by any company or proposed company.\";
(v)after Article 56 and the entry relating thereto, the following Article and entries shall be inserted, namely:—
(1)(2)
\"56A. SECURITY OTHER THAN DEBENTURES (see sections 9A and 9B)—
(a) issue of security other than debenture;0.005%
(b) transfer of security other than debenture on delivery basis;0.015%
(c) transfer of security other than debenture on non-delivery basis;0.003%
(d) derivatives—
(i) futures (equity and commodity)0.002%
(ii) options (equity and commodity)0.003%
(iii) currency and interest rate derivatives0.0001%
(iv) other derivatives0.002%
(e) Government securities0%
(f) repo on corporate bonds0.00001%\";
(vi )in Article 62, items (a) and (b) and the entries relating thereto shall be omitted.
","words":324,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-1/section/21/","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."}