# The Finance Act, 2011, Section 12: Amendment of section 80-IB

- Act: The Finance Act, 2011
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2011/section/12/

## Text

Amendment of section 80-IB. 12. In section 80-IB of the Income-tax Act, in sub-section (9), in clause (ii),  the following proviso shall be inserted with effect from the 1st day of April, 2012, namely:— "Provided that the provisions of this clause shall not apply to blocks licensed under a contract awarded after the 31st day of March, 2011 under the New Exploration Licencing Policy announced by the Government of India vide Resolution No. O-19018/22/95-ONG.DO.VL, dated the 10th February, 1999 or in pursuance of any law for the time being in force or by the Central or a State Government in any other manner;". © Copyright. Taxmann Publications Pvt. Ltd.

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