Amendment of section 2
Section 3 of the Finance Act, 2001 deals with amendment of section 2. CHAPTER III DIRECT TAXES Income-tax Amendment of section 2.
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;’.
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Section 3, The Finance Act, 2001.
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Questions about Section 3
What does Section 3 of the Finance Act deal with?
Section 3 of the Finance Act is headed "Amendment of section 2". CHAPTER III DIRECT TAXES Income-tax Amendment of section 2.
How do I find court cases under Section 3 of the Finance Act?
In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 2001 3, section 3 Finance Act 2001, section 3 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
What should I read with Section 3 of the Finance Act, and has it changed?
Its own text turns on section 2 (Income-tax), Income-tax Act 2 (Definitions), so none of them can safely be read on its own. 4 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 2001. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule5812 words
- 49. Substitution of new sections for section 922093 words
- 2. Income-tax1972 words
- 5. Amendment of section 101262 words
- 44. Amendment of section 80-IA857 words
- 52. Substitution of new section for section 115AC851 words
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