{"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":"3","heading":"Amendment of section 16","text":"CHAPTER III DIRECT TAXES Income-tax Amendment of section 16 3. In section 16 of the Income-tax Act, 1961 (43 of 1961) (hereafter in this Chapter referred to as the Income-tax Act), in clause (ia) [as inserted by section 7 of the Finance Act, 2018 (13 of 2018)], for the words \"forty thousand\", the words \"fifty thousand\" shall be substituted with effect from the 1st day of April, 2020.","html":"<p>CHAPTER III</p><p><b>DIRECT TAXES</b></p><p><i>Income-tax</i></p><p><b>Amendment of section 16</b></p><p><b>3. </b>In section 16 of the Income-tax Act, 1961 (43 of 1961) (hereafter in this Chapter referred to as the Income-tax Act), in clause (<i>ia</i>) [as inserted by section 7 of the Finance Act, 2018 (13 of 2018)], for the words \"forty thousand\", the words \"fifty thousand\" shall be substituted with effect from the 1st day of April, 2020.</p>","words":68,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-1/section/3/","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."}