{"act":{"id":"finance-act-2020","short_title":"The Finance Act, 2020","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2020-2021.","act_number":null,"act_year":2020,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":157,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2020/"},"unit":"section","section":{"number":"106","heading":"Amendment of First Schedule","text":"Amendment of First Schedule. 106. In the First Schedule to the Income-tax Act, in rule 5, after clause (c), the following proviso shall be inserted, namely:— \"Provided that any sum payable by the assessee under section 43B, which is added back in accordance with clause (a) of this rule, shall be allowed as deduction in computing the income under the said rule in the previous year in which such sum is actually paid.\".","html":"<p><b>Amendment of First Schedule.</b></p><p><b>106.</b> In the First Schedule to the Income-tax Act, in rule 5, after clause (<i>c</i>), the following proviso shall be inserted, namely:—</p><p>\"<b>Provided</b> that any sum payable by the assessee under section 43B, which is added back in accordance with clause (<i>a</i>) of this rule, shall be allowed as deduction in computing the income under the said rule in the previous year in which such sum is actually paid.\".</p>","words":73,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2020/section/106/","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."}