{"act":{"id":"finance-act-2019-no-2","short_title":"The Finance Act, 2019 (No. 2)","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":217,"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-2/"},"unit":"section","section":{"number":"142","heading":"Amendment of section 58B","text":"Amendment of section 58B 142. In section 58B of the principal Act,-- (i) | in sub-section (2), for the words \"two thousand rupees\" and \"one hundred rupees\", the words \"one lakh rupees\" and \"five thousand rupees\" shall respectively be substituted; (ii) | in sub-section (4A), for the words \"five lakh rupees\", the words \"twenty-five lakh rupees\" shall be substituted; (iii) | in sub-section (4AA), for the words \"five thousand rupees\", the words \"ten lakh rupees\" shall be substituted; (iv) | in sub-section (4AAA), for the words \"rupees fifty\", the words \"five thousand rupees\" shall be substituted; (v) | in sub-section (5),-- (A) | in clause (a), for the words \"any deposit\", the words \"any deposit without being authorised so to do or\" shall be substituted; (B) | in clause (b), for the word, figures and letters \"section 45NA\", the word, figures and letter \"section 45J\" shall be substituted; (vi) | in sub-section (6), for the words \"two thousand rupees\" and \"one hundred rupees\", the words \"one lakh rupees\" and \"ten thousand rupees\" shall respectively be substituted.","html":"<p><b><b>Amendment of section 58B</b></b></p><p><b><b>142</b>. </b>In section 58B of the principal Act,--</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in sub-section (2), for the words \"two thousand rupees\" and \"one hundred rupees\", the words \"one lakh rupees\" and \"five thousand rupees\" shall respectively be substituted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>in sub-section (4A), for the words \"five lakh rupees\", the words \"twenty-five lakh rupees\" shall be substituted;</td></tr><tr><td>(<i>iii</i>)</td><td></td><td>in sub-section (4AA), for the words \"five thousand rupees\", the words \"ten lakh rupees\" shall be substituted;</td></tr><tr><td>(<i>iv</i>)</td><td></td><td>in sub-section (4AAA), for the words \"rupees fifty\", the words \"five thousand rupees\" shall be substituted;</td></tr><tr><td>(<i>v</i>)</td><td></td><td>in sub-section (5),--</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(A)</td><td></td><td>in clause (<i>a</i>), for the words \"any deposit\", the words \"any deposit without being authorised so to do or\" shall be substituted;</td></tr><tr><td>(B)</td><td></td><td>in clause (<i>b</i>), for the word, figures and letters \"section 45NA\", the word, figures and letter \"section 45J\" shall be substituted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>vi</i>)</td><td></td><td>in sub-section (6), for the words \"two thousand rupees\" and \"one hundred rupees\", the words \"one lakh rupees\" and \"ten thousand rupees\" shall respectively be substituted.</td></tr></table></div>","words":176,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-2/section/142/","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."}