{"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":"62","heading":"Amendment of section 245A","text":"Amendment of section 245A. 62. In section 245A of the Income-tax Act, with effect from the 1st day of February, 2021,— (i) | after clause (d), the following clause shall be inserted and shall be deemed to have been inserted, namely:— '(da) \"Interim Board\" means the Interim Board for Settlement constituted under section 245AA;'; (ii) | after the clause (e), the following clauses shall be inserted and shall be deemed to have been inserted, namely:— '(ea) \"Member of the Interim Board\" means a Member of the Interim Board; (eb) \"pending application\" means an application which was filed under section 245C and which fulfils the following conditions, namely: — (i) | it was not declared invalid under sub-section (2C) of section 245D; and (ii) | no order under sub-section (4) of section 245D was issued on or before the 31st day of January, 2021 with respect to such application;'.","html":"<p><b>Amendment of section 245A.</b></p><p><b>62.</b> In section 245A of the Income-tax Act, with effect from the 1st day of February, 2021,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>after clause (<i>d</i>), the following clause shall be inserted and shall be deemed to have been inserted, namely:—</td></tr><tr><td></td><td></td><td>'(<i>da</i>) \"Interim Board\" means the Interim Board for Settlement constituted under section 245AA;';</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>after the clause (<i>e</i>), the following clauses shall be inserted and shall be deemed to have been inserted, namely:—</td></tr><tr><td></td><td></td><td>'(<i>ea</i>) \"Member of the Interim Board\" means a Member of the Interim Board;</td></tr><tr><td></td><td></td><td>(<i>eb</i>) \"pending application\" means an application which was filed under section 245C and which fulfils the following conditions, namely: —</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>it was not declared invalid under sub-section (2C) of section 245D; and</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>no order under sub-section (4) of section 245D was issued on or before the 31st day of January, 2021 with respect to such application;'.</td></tr></table></div>","words":148,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2021/section/62/","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."}