{"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":"62","heading":"Amendment of section 206AB","text":"Amendment of section 206AB. 62.  In section 206AB of the Income-tax Act,— (a) | in sub-section (1),— (i) | for the figures, letters and word \"194LBC or 194N\", the figures, letters and word \"194-IA, 194-IB, 194LBC, 194M or 194N\" shall be substituted; (ii) | the brackets and words \"(hereafter referred to as deductee)\" shall be omitted; (b) | in sub-section (3), for the portion beginning with the words \"filed the returns of income\" and ending with the words \"each of these two previous years:\", the following shall be substituted, namely:— \"furnished the return of income for the assessment year relevant to the previous year immediately preceding the financial year in which tax is required to be deducted, for which the time limit for furnishing the return of income under sub-section (1) of section 139 has expired and the aggregate of tax deducted at source and tax collected at source in his case is rupees fifty thousand or more in the said previous year:\".","html":"<p><b>Amendment of section 206AB.</b></p><p><b>62. </b> In section 206AB of the Income-tax Act,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in sub-section (1),—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>for the figures, letters and word \"194LBC or 194N\", the figures, letters and word \"194-IA, 194-IB, 194LBC, 194M or 194N\" shall be substituted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>the brackets and words \"(hereafter referred to as deductee)\" shall be omitted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>b</i>)</td><td></td><td>in sub-section (3), for the portion beginning with the words \"filed the returns of income\" and ending with the words \"each of these two previous years:\", the following shall be substituted, namely:—</td></tr></table></div><p>\"furnished the return of income for the assessment year relevant to the previous year immediately preceding the financial year in which tax is required to be deducted, for which the time limit for furnishing the return of income under sub-section (1) of section 139 has expired and the aggregate of tax deducted at source and tax collected at source in his case is rupees fifty thousand or more in the said previous year:\".</p>","words":163,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2022/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."}