{"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":"51","heading":"Amendment of section 115A","text":"Amendment of section 115A. 51.  In section 115A of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 2024,— (i) | in clause (a), in sub-clause (A), the following proviso shall be inserted, namely:— \"Provided that the amount of income-tax calculated on the amount of income by way of dividend received from a unit in an International Financial Services Centre, as referred to in sub-section (1A) of section 80LA, shall be ten per cent;\"; (ii) | in clause (b), in sub-clauses (A) and (B), for the word \"ten\", the word \"twenty\" shall be substituted.","html":"<p><b>Amendment of section 115A.</b></p><p><b>51. </b> In section 115A of the Income-tax Act, in sub-section (1), with effect from the 1st day of April, 2024,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in clause (<i>a</i>), in sub-clause (<i>A</i>), the following proviso shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"<b>Provided </b>that the amount of income-tax calculated on the amount of income by way of dividend received from a unit in an International Financial Services Centre, as referred to in sub-section (1A) of section 80LA, shall be ten per cent;\";</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>in clause (<i>b</i>), in sub-clauses (<i>A</i>) and (<i>B</i>), for the word \"ten\", the word \"twenty\" shall be substituted.</td></tr></table></div>","words":99,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2023/section/51/","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."}