{"act":{"id":"finance-act-2022","short_title":"The Finance Act, 2022","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2022-2023.","act_number":"6","act_year":2022,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":134,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2022/"},"unit":"section","section":{"number":"57","heading":"Amendment of section 194-IA","text":"Amendment of section 194-IA. 57.  In section 194-IA of the Income-tax Act,— (i) | in sub-section (1), after the words \"one per cent. of such sum\", the words \"or the stamp duty value of such property, whichever is higher,\" shall be inserted; (ii) | in sub-section (2), for the words \"immovable property is\", the words \"immovable property and the stamp duty value of such property, are both,\" shall be substituted; (iii) | in the Explanation, after clause (b), the following clause shall be inserted, namely:— '(c) \"stamp duty value\" shall have the same meaning as assigned to it in clause (f) of the Explanation to clause (vii) of sub-section (2) of section 56.'.","html":"<p><b>Amendment of section 194-IA.</b></p><p><b>57. </b> In section 194-IA of the Income-tax Act,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in sub-section (1), after the words \"one per cent. of such sum\", the words \"or the stamp duty value of such property, whichever is higher,\" shall be inserted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>in sub-section (2), for the words \"immovable property is\", the words \"immovable property and the stamp duty value of such property, are both,\" shall be substituted;</td></tr><tr><td>(<i>iii</i>)</td><td></td><td>in the <i>Explanation</i>, after clause (<i>b</i>), the following clause shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>'(<i>c</i>) \"stamp duty value\" shall have the same meaning as assigned to it in clause (<i>f</i>) of the <i>Explanation</i> to clause (<i>vii</i>) of sub-section (2) of section 56.'.</td></tr></table></div>","words":113,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2022/section/57/","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."}