{"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":"67","heading":"Amendment of section 285BA","text":"Amendment of section 285BA 67. In section 285BA of the Income-tax Act, with effect from the 1st day of September, 2019,— (i) | in sub-section (1), for clause (k), the following clauses shall be substituted, namely:— \"(k) | a prescribed reporting financial institution; or (l) | a person, other than those referred to in clauses (a) to (k), as may be prescribed,\"; (ii) | in sub-section (3), the second proviso shall be omitted; (iii) | in sub-section (4), for the words \"such statement shall be treated as an invalid statement and the provisions of this Act shall apply as if such person had failed to furnish the statement\", the words \"the provisions of this Act shall apply as if such person had furnished inaccurate information in the statement\" shall be substituted.","html":"<p><b><b>Amendment of section 285BA</b></b></p><p><b><b>67</b>.</b> In section 285BA of the Income-tax Act, with effect from the 1st day of September, 2019,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in sub-section (1), for clause (<i>k</i>), the following clauses shall be substituted, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>\"(<i>k</i>)</td><td></td><td>a prescribed reporting financial institution; or</td></tr><tr><td>(<i>l</i>)</td><td></td><td>a person, other than those referred to in clauses (<i>a</i>) to (<i>k</i>), as may be prescribed,\";</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>ii</i>)</td><td></td><td>in sub-section (3), the second proviso shall be omitted;</td></tr><tr><td>(<i>iii</i>)</td><td></td><td>in sub-section (4), for the words \"such statement shall be treated as an invalid statement and the provisions of this Act shall apply as if such person had failed to furnish the statement\", the words \"the provisions of this Act shall apply as if such person had furnished inaccurate information in the statement\" shall be substituted.</td></tr></table></div>","words":131,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2019-no-2/section/67/","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."}