# The Finance Act, 2007, Section 61: Amendment of section 206C

- Act: The Finance Act, 2007
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2007/section/61/

## Text

Amendment of section 206C. 61. In section 206C of the Income-tax Act, in sub-section (1C), after the Table, the following Explanations shall be inserted with effect from the 1st day of June, 2007, namely:— ‘Explanation 1.—For the purposes of this sub-section, "mining and quarrying" shall not include mining and quarrying of mineral oil. Explanation 2.—For the purposes of Explanation 1, "mineral oil" includes petroleum and natural gas.’. © Copyright. Taxmann Publications Pvt. Ltd.

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