{"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":"73","heading":"Amendment of section 245","text":"Amendment of section 245. 73. In section 245 of the Income-tax Act, in sub-section (2), with effect from the 1st day of October, 2024,— (a) | the words \"is of the opinion that the grant of refund is likely to adversely affect the revenue,\" shall be omitted; (b) | after the words \"withhold the refund up to\", the words \"sixty days from\" shall be inserted.","html":"<p><b>Amendment of section 245.</b></p><p><b>73.</b> In section 245 of the Income-tax Act, in sub-section (2), 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>the words \"is of the opinion that the grant of refund is likely to adversely affect the revenue,\" shall be omitted;</td></tr><tr><td>(<i>b</i>)</td><td></td><td>after the words \"withhold the refund up to\", the words \"sixty days from\" shall be inserted.</td></tr></table></div>","words":65,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2024-no-2/section/73/","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."}