{"act":{"id":"finance-act-2021","short_title":"The Finance Act, 2021","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2021-2022.","act_number":null,"act_year":2021,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":180,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2021/"},"unit":"section","section":{"number":"33","heading":"Amendment of section 115ACA","text":"Amendment of section 115ACA. 33. In section 115ACA of the Income-tax Act, in the Explanation, with effect from the 1st day of April, 2022— (i) | in clause (a),— (a) | in the opening portion, after the words \"the Overseas Depository Bank outside India\", the words \"or in an International Financial Services Centre\" shall be inserted; (b) | after sub-clause (ii), the following sub-clause shall be inserted, namely:— \"(iii) | ordinary shares of issuing company, being a company incorporated outside India, if such depository receipt or certificate is listed and traded on any International Financial Services Centre;\"; (ii) | after clause (c), the following clause shall be inserted, namely:— '(ca) | \"International Financial Services Centre\" shall have the meaning assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005).'.","html":"<p><b>Amendment of section 115ACA.</b></p><p><b>33.</b> In section 115ACA of the Income-tax Act, in the <i>Explanation,</i> with effect from the 1st day of April, 2022—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in clause (<i>a</i>),—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in the opening portion, after the words \"the Overseas Depository Bank outside India\", the words \"or in an International Financial Services Centre\" shall be inserted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>after sub-clause (<i>ii</i>), the following sub-clause shall be inserted, namely:—</td></tr><tr><td>\"(<i>iii</i>)</td><td></td><td>ordinary shares of issuing company, being a company incorporated outside India, if such depository receipt or certificate is listed and traded on any International Financial Services Centre;\";</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>ii</i>)</td><td></td><td>after clause (<i>c</i>), the following clause shall be inserted, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>'(<i>ca</i>)</td><td></td><td>\"International Financial Services Centre\" shall have the meaning assigned to it in clause (<i>q</i>) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005).'.</td></tr></table></div>","words":138,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2021/section/33/","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."}