{"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":"62","heading":"Amendment of section 115VP","text":"Amendment of section 115VP. 62.  In section 115VP of the Income-tax Act,— (i) | in sub-section (2), after the proviso, the following proviso shall be inserted, namely:— \"Provided further that a Unit of an International Financial Services Centre which has availed of deduction under section 80LA may make an application within three months from the date on which such deduction ceases.\"; (ii) | after sub-section (5), the following Explanation shall be inserted, namely:— 'Explanation.—For the purposes of this section \"International Financial Services Centre\" shall have the same meaning as assigned to it in clause (q) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005).'","html":"<p><b>Amendment of section 115VP.</b></p><p><b>62. </b> In section 115VP of the Income-tax Act,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>in sub-section (2), after the proviso, the following proviso shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"<b>Provided further </b>that a Unit of an International Financial Services Centre which has availed of deduction under section 80LA may make an application within three months from the date on which such deduction ceases.\";</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>after sub-section (5), the following <i>Explanation </i>shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>'<i>Explanation.—</i>For the purposes of this section \"International Financial Services Centre\" shall have the same meaning as assigned to it in clause (<i>q</i>) of section 2 of the Special Economic Zones Act, 2005 (28 of 2005).'</td></tr></table></div>","words":108,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2023/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."}