{"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":"65","heading":"Amendment of section 272B","text":"Amendment of section 272B 65. In section 272B of the Income-tax Act, with effect from the 1st day of September, 2019,— (a) | in sub-section (2),— (i) | for the words \"permanent account number\", the words \"permanent account number or Aadhaar number, as the case may be,\" shall be substituted; (ii) | for the words \"ten thousand rupees\", the words \"ten thousand rupees for each such default\" shall be substituted; (b) | after sub-section (2), the following sub-sections shall be inserted, namely:— \"(2A) If a person, who is required to quote his permanent account number or Aadhaar number, as the case may be, in documents referred to in sub-section (6A) of section 139A or authenticate such number in accordance with the provisions of the said sub-section, fails to do so, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees for each such default. (2B) If a person, who is required to ensure that the permanent account number or the Aadhaar number, as the case may be, has been,— (i) | duly quoted in the documents relating to transactions referred to in clause (c) of sub-section (5) or in sub-section (6A) of section 139A; or (ii) | duly authenticated in respect of transactions referred to under sub-section (6A) of that section, fails to do so, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees for each such default.\"; (c) | in sub-section (3), for the word, brackets and figure \"sub-section (2)\", the words, brackets, figures and letters \"sub-section (2) or sub-section (2A) or sub-section (2B)\" shall be substituted.","html":"<p><b><b>Amendment of section 272B</b></b></p><p><b><b>65</b>.</b> In section 272B of the Income-tax Act, with effect from the 1st day of September, 2019,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in sub-section (2),—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>for the words \"permanent account number\", the words \"permanent account number or Aadhaar number, as the case may be,\" shall be substituted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>for the words \"ten thousand rupees\", the words \"ten thousand rupees for each such default\" shall be substituted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>b</i>)</td><td></td><td>after sub-section (2), the following sub-sections shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"(2A) If a person, who is required to quote his permanent account number or Aadhaar number, as the case may be, in documents referred to in sub-section (6A) of section 139A or authenticate such number in accordance with the provisions of the said sub-section, fails to do so, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees for each such default.</td></tr><tr><td></td><td></td><td>(2B) If a person, who is required to ensure that the permanent account number or the Aadhaar number, as the case may be, has been,—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>duly quoted in the documents relating to transactions referred to in clause (<i>c</i>) of sub-section (5) or in sub-section (6A) of section 139A; or</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>duly authenticated in respect of transactions referred to under sub-section (6A) of that section,</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td></td><td></td><td>fails to do so, the Assessing Officer may direct that such person shall pay, by way of penalty, a sum of ten thousand rupees for each such default.\";</td></tr><tr><td>(<i>c</i>)</td><td></td><td>in sub-section (3), for the word, brackets and figure \"sub-section (2)\", the words, brackets, figures and letters \"sub-section (2) or sub-section (2A) or sub-section (2B)\" shall be substituted.</td></tr></table></div>","words":279,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-2/section/65/","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."}