{"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":"55","heading":"Amendment of section 115BB","text":"Amendment of section 115BB. 55.  In section 115BB of the Income-tax Act, for the Explanation, the following shall be substituted with effect from the 1st day of April, 2024, namely:— 'Provided that nothing contained in this section shall apply to income by way of winnings from any online game for the assessment year beginning on or after the 1st day of April, 2024. Explanation.—For the purposes of this section,— (i) | \"horse race\" shall have the meaning assigned to it in section 74A; (ii) | \"online game\" shall have the meaning assigned to it in section 115BBJ.'.","html":"<p><b>Amendment of section 115BB.</b></p><p><b>55. </b> In section 115BB of the Income-tax Act, for the <i>Explanation,</i> the following shall be substituted with effect from the 1st day of April, 2024, namely:—</p><p>'<b>Provided</b> that nothing contained in this section shall apply to income by way of winnings from any online game for the assessment year beginning on or after the 1st day of April, 2024.</p><p><i>Explanation.</i>—For the purposes of this section,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>\"horse race\" shall have the meaning assigned to it in section 74A;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>\"online game\" shall have the meaning assigned to it in section 115BBJ.'.</td></tr></table></div>","words":97,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2023/section/55/","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."}