{"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":"79","heading":"Amendment of Section 194J","text":"Amendment of section 194J. 79. In section 194J of the Income-tax Act, in sub-section (1),— (a) | in the long line, for the words \"ten per cent of such sum\", the words and brackets \"two per cent of such sum in case of fees for technical services (not being a professional services) or royalty where such royalty is in the nature of consideration for sale, distribution or exhibition of cinematographic films and ten per cent of such sum in other cases,\" shall be substituted; (b) | 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":"<p><b>Amendment of section 194J.</b></p><p><b>79.</b> In section 194J of the Income-tax Act, in sub-section (1),—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in the long line, for the words \"ten per cent of such sum\", the words and brackets \"two per cent of such sum in case of fees for technical services (not being a professional services) or royalty where such royalty is in the nature of consideration for sale, distribution or exhibition of cinematographic films and ten per cent of such sum in other cases,\" shall be substituted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>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.</td></tr></table></div>","words":130,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2020/section/79/","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."}