{"act":{"id":"finance-act-2024-no-2","short_title":"The Finance Act, 2024 (No. 2)","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2024-2025.","act_number":null,"act_year":2024,"enact_date":"2024-08-16","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":174,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2024-no-2/"},"unit":"section","section":{"number":"5","heading":"Amendment of section 11","text":"Amendment of section 11. 5. In section 11 of the Income-tax Act, in sub-section (7), with effect from the 1st day of April, 2025,— (a) | for the words, brackets, figures and letters \"other than clause (1), clause (23C), clause (23EC), clause (46) and clause (46A) thereof\", the words, brackets, figures and letters \"other than clause (1), clause (23C), clause (23EA), clause (23EC), clause (23ED), clause (46), clause (46A) and clause (46B) thereof\" shall be substituted; (b) | in the first proviso,— (i) | for the portion beginning with the words \"is notified under\" and ending with the word, brackets and figures \"clause (46)\", the words, brackets, figures and letters \"is notified under clause (23EA) or clause (23EC) or clause (23ED) or clause (46)\" shall be substituted; (ii) | after the words \"whichever is later\", the words, figures, letters and brackets \", or, the 1st day of April of the previous year relevant to the assessment year for which the exemption is claimed under clause (46B) of the said section\" shall be inserted; (c) | in the second proviso,— (i) | after the words \"notification under\", the words, brackets, figures and letters \"clause (23EA) or\" shall be inserted; (ii) | after the words, brackets, figures and letters \"clause (23EC) or\", the words, brackets, figures and letters \"clause (23ED) or\" shall be inserted.","html":"<p><b>Amendment of section 11.</b></p><p><b>5.</b> In section 11 of the Income-tax Act, in sub-section (7), with effect from the 1st day of April, 2025,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>for the words, brackets, figures and letters \"other than clause (<i>1</i>), clause (<i>23C</i>), clause (<i>23EC</i>), clause (<i>46</i>) and clause (<i>46A</i>) thereof\", the words, brackets, figures and letters \"other than clause (<i>1</i>), clause (<i>23C</i>), clause (<i>23EA</i>), clause (<i>23EC</i>), clause (<i>23ED</i>), clause (<i>46</i>), clause (<i>46A</i>) and clause (<i>46B</i>) thereof\" shall be substituted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>in the first proviso,—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>for the portion beginning with the words \"is notified under\" and ending with the word, brackets and figures \"clause (<i>46</i>)\", the words, brackets, figures and letters \"is notified under clause (<i>23EA</i>) or clause (<i>23EC</i>) or clause (<i>23ED</i>) or clause (<i>46</i>)\" shall be substituted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>after the words \"whichever is later\", the words, figures, letters and brackets \", or, the 1st day of April of the previous year relevant to the assessment year for which the exemption is claimed under clause (<i>46B</i>) of the said section\" shall be inserted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>c</i>)</td><td></td><td>in the second proviso,—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>after the words \"notification under\", the words, brackets, figures and letters \"clause (<i>23EA</i>) or\" shall be inserted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>after the words, brackets, figures and letters \"clause (<i>23EC</i>) or\", the words, brackets, figures and letters \"clause (<i>23ED</i>) or\" shall be inserted.</td></tr></table></div>","words":222,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2024-no-2/section/5/","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."}