{"act":{"id":"finance-act-2023","short_title":"The Finance Act, 2023","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2023-2024.","act_number":"8","act_year":2023,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":181,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2023/"},"unit":"section","section":{"number":"118","heading":"Amendment of section 271C","text":"Amendment of section 271C. 118.  In section 271C of the Income-tax Act, in sub-section (1),— (A) | in clause (b),— (I) | for the words \"pay the whole\", the words \"pay or ensure payment of, the whole\" shall be substituted; (II) | in sub-clause (i), the word \"or\" shall be omitted; (III) | after sub-clause (ii), the following sub-clauses shall be inserted, namely:— \"(iii) | the first proviso to sub-section (1) of section 194R; or (iv) | the proviso to sub-section (1) of section 194S; or\"; (IV) | after sub-clause (iv) as inserted by the Finance Act, 2023, the following sub-clause shall be inserted with effect from the 1st day of July, 2023, namely:— \"(v) | sub-section (2) of section 194BA,\"; (B) | in the long line, after the words \"deduct or pay\", the words \"or ensure payment of,\" shall be inserted.","html":"<p><b>Amendment of section 271C.</b></p><p><b>118. </b> In section 271C 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 clause (<i>b</i>),—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>I</i>)</td><td></td><td>for the words \"pay the whole\", the words \"pay or ensure payment of, the whole\" shall be substituted;</td></tr><tr><td>(<i>II</i>)</td><td></td><td>in sub-clause (<i>i</i>), the word \"or\" shall be omitted;</td></tr><tr><td>(<i>III</i>)</td><td></td><td>after sub-clause (<i>ii</i>), the following sub-clauses shall be inserted, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>\"(<i>iii</i>)</td><td></td><td>the first proviso to sub-section (1) of section 194R; or</td></tr><tr><td>(<i>iv</i>)</td><td></td><td>the proviso to sub-section (1) of section 194S; or\";</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>IV</i>)</td><td></td><td>after sub-clause (<i>iv</i>) as inserted by the Finance Act, 2023, the following sub-clause shall be inserted with effect from the 1st day of July, 2023, namely:—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>\"(<i>v</i>)</td><td></td><td>sub-section (2) of section 194BA,\";</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>B</i>)</td><td></td><td>in the long line, after the words \"deduct or pay\", the words \"or ensure payment of,\" shall be inserted.</td></tr></table></div>","words":142,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2023/section/118/","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."}