# The Finance Act, 2001, Section 3: Amendment of section 2

- Act: The Finance Act, 2001
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2001/section/3/

## Text

CHAPTER III DIRECT TAXES Income-tax Amendment of section 2. 3. In section 2 of the Income-tax Act,— (a) after clause (12), the following clause shall be in­serted with effect from the 1st day of June, 2001, namely:— ‘( 12A) "books or books of account" includes ledgers, day-books, cash books, account-books and other books, whether kept in the written form or as print-outs of data stored in a floppy, disc, tape or any other form of electro-magnetic data storage device;’; (b) after clause (22A), the following clause shall be inserted with effect from the 1st day of June, 2001, namely:— ‘(22AA ) "document" includes an electronic record as defined in clause (t) of sub-section (1) of section 2 of the Information Techno-logy Act, 2000 (21 of 2000);’; (c) in clause (24), in sub-clause (ix), the following Explanation shall be inserted with effect from the 1st day of April, 2002, namely :— ‘Explanation. —For the purposes of this sub-clause,— (i) "lottery" includes winnings from prizes awarded to any person by draw of lots or by chance or in any other manner what­soever, under any scheme or arrangement by whatever name called; (ii) "card game and other game of any sort" includes any game show, an entertainment programme on television or electronic mode, in which people compete to win prizes or any other similar game;’; (d) after clause (28B), the following clause shall be inserted with effect from the 1st day of April, 2002, namely:— ‘(28BB ) "insurer" means an insurer, being an Indian insurance company, as defined under clause (7A) of section 2 of the Insur­ance Act, 1938 (4 of 1938), which has been granted a certificate of registration under section 3 of that Act;’. © Copyright. Taxmann Publications Pvt. Ltd.

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