{"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":"78","heading":"Amendment of Section 194-I","text":"'(ba) | \"municipal debt securities\" shall have the meaning assigned to it in clause (m) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992);'. Amendment of section 194-I. 78. In section 194-I of the Income-tax Act, in the second proviso, for the words, brackets, letters and figures \"the monetary limits specified under clause (a) or clause (b) of section 44AB\", the words \"one crore rupees in case of business or fifty lakh rupees in case of profession\" shall be substituted.","html":"<div class=\"tablewrap\"><table class=\"dtable\"><tr><td>'(<i>ba</i>)</td><td></td><td>\"municipal debt securities\" shall have the meaning assigned to it in clause (<i>m</i>) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992);'.</td></tr></table></div><p><b>Amendment of section 194-I.</b></p><p><b>78.</b> In section 194-I of the Income-tax Act, in the second proviso, for the words, brackets, letters and figures \"the monetary limits specified under clause (<i>a</i>) or clause (<i>b</i>) of section 44AB\", the words \"one crore rupees in case of business or fifty lakh rupees in case of profession\" shall be substituted.</p>","words":108,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2020/section/78/","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."}