{"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":"6","heading":"Amendment of section 12A","text":"Amendment of section 12A. 6. In section 12A of the Income-tax Act, in sub-section (1), in clause (ac) with effect from the 1st day of October, 2024,— (a) | in sub-clause (ii),— (i) | after the words, figures and letters \"under section 12AB\", the words, brackets, figures and letters \"or approved under sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10\" shall be inserted; (ii) | after the words \"the period of the said registration\", the words \"or approval, as the case may be,\" shall be inserted; (b) | in sub-clause (iii),— (i) | after the words, figures and letters \"under section 12AB\", the words, brackets, figures and letters \"or provisionally approved under sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10\" shall be inserted; (ii) | after the words \"period of the provisional registration\", the words \"or provisional approval, as the case may be,\" shall be inserted; (c) | after sub-clause (vi), the following proviso shall be inserted, namely:— \"Provided that where the application is filed beyond the time allowed in sub-clauses (i) to (vi), the Principal Commissioner or Commissioner may, if he considers that there is a reasonable cause for delay in filing the application, condone such delay and such application shall be deemed to have been filed within time;\".","html":"<p><b>Amendment of section 12A.</b></p><p><b>6.</b> In section 12A of the Income-tax Act, in sub-section (1), in clause (<i>ac</i>) with effect from the 1st day of October, 2024,—</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>)</td><td></td><td>in sub-clause (<i>ii</i>),—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>after the words, figures and letters \"under section 12AB\", the words, brackets, figures and letters \"or approved under sub-clause (<i>iv</i>) or sub-clause (<i>v</i>) or sub-clause (<i>vi</i>) or sub-clause (<i>via</i>) of clause (<i>23C</i>) of section 10\" shall be inserted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>after the words \"the period of the said registration\", the words \"or approval, as the case may be,\" shall be inserted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>b</i>)</td><td></td><td>in sub-clause (<i>iii</i>),—</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>i</i>)</td><td></td><td>after the words, figures and letters \"under section 12AB\", the words, brackets, figures and letters \"or provisionally approved under sub-clause (<i>iv</i>) or sub-clause (<i>v</i>) or sub-clause (<i>vi</i>) or sub-clause (<i>via</i>) of clause (<i>23C</i>) of section 10\" shall be inserted;</td></tr><tr><td>(<i>ii</i>)</td><td></td><td>after the words \"period of the provisional registration\", the words \"or provisional approval, as the case may be,\" shall be inserted;</td></tr></table></div><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>c</i>)</td><td></td><td>after sub-clause (<i>vi</i>), the following proviso shall be inserted, namely:—</td></tr><tr><td></td><td></td><td>\"<b>Provided</b> that where the application is filed beyond the time allowed in sub-clauses (<i>i</i>) to (<i>vi</i>), the Principal Commissioner or Commissioner may, if he considers that there is a reasonable cause for delay in filing the application, condone such delay and such application shall be deemed to have been filed within time;\".</td></tr></table></div>","words":228,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2024-no-2/section/6/","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."}