{"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":"17","heading":"Amendment of section 47","text":"Amendment of section 47 17. In section 47 of the Income-tax Act, in clause (viiab), with effect from the 1st day of April, 2020,— (A) | for sub-clause (c), the following sub-clauses shall be substituted, namely:— \"(c) | derivative; or (d) | such other securities as may be notified by the Central Government in this behalf,\"; (B) | in the Explanation, after clause (c), the following clause shall be inserted, namely:— '(d) | \"securities\" shall have the meaning assigned to it in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);'","html":"<p><b><b>Amendment of section 47</b></b></p><p><b><b>17</b>.</b> In section 47 of the Income-tax Act, in clause (<i>viiab</i>), with effect from the 1st day of April, 2020,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>A</i>)</td><td></td><td>for sub-clause (<i>c</i>), the following sub-clauses shall be substituted, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>\"(<i>c</i>)</td><td></td><td>derivative; or</td></tr><tr><td>(<i>d</i>)</td><td></td><td>such other securities as may be notified by the Central Government in this behalf,\";</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>B</i>)</td><td></td><td>in the <i>Explanation</i>, after clause (<i>c</i>), the following clause shall be inserted, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>'(<i>d</i>)</td><td></td><td>\"securities\" shall have the meaning assigned to it in clause (<i>h</i>) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956);'</td></tr></table></div>","words":97,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-2/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."}