Section 139 of the Finance Act, 2015 deals with amendment of section 6. Amendment of section 6 139. In section 6 of the Foreign Exchange Act,— (A) | in sub-section (2),— (i) | for clause (a), the following clause shall be substituted, namely:— "(a) | any class or classes of capital account transactions, involving debt instruments, which are permissible;";
Amendment of section 6
139. In section 6 of the Foreign Exchange Act,—
(A)
in sub-section (2),—
(i)
for clause (a), the following clause shall be substituted, namely:—
"(a)
any class or classes of capital account transactions, involving debt instruments, which are permissible;";
(ii)
after clause (b), the following clause shall be inserted, namely:—
"(c)
any conditions which may be placed on such transactions;";
(iii)
for the proviso, the following proviso shall be substituted, namely:—
"Provided that the Reserve Bank or the Central Government shall not impose any restrictions on the drawal of foreign exchange for payment due on account of amortisation of loans or for depreciation of direct investments in the ordinary course of business.";
(B)
after sub-section (2), the following sub-section shall be inserted, namely:—
"(2A)
The Central Government may, in consultation with the Reserve Bank, prescribe—
(a)
any class or classes of capital account transactions, not involving debt instruments, which are permissible;
(b)
the limit up to which foreign exchange shall be admissible for such transactions; and
(c)
any conditions which may be placed on such transactions.";
(C)
sub-section (3) shall be omitted;
(D)
after sub-section (6), the following sub-section shall be inserted, namely:—
'(7)
For the purposes of this section, the term "debt instruments" shall mean, such instruments as may be determined by the Central Government in consultation with the Reserve Bank.'.
Section 139, The Finance Act, 2015 (Act 20 of 2015).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
What does Section 139 of the Finance Act deal with?
Section 139 of the Finance Act is headed "Amendment of section 6". Amendment of section 6 139. In section 6 of the Foreign Exchange Act,— (A) | in sub-section (2),— (i) | for clause (a), the following clause shall be substituted, namely:— "(a) | any class or classes of capital account transactions, involving debt instruments, which are permissible;";
How do I find court cases under Section 139 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 2015 139, section 139 Finance Act 2015, section 139 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 139 of the Finance Act, and has it changed?
Its own text turns on section 6 (Insertion of new section 9A), so none of them can safely be read on its own. 6 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 2015 as Act 20 of 2015. India Code records no commencement date for it. It is in force as at the date shown on this page.
Source and method. Compiled from the enactments of Parliament and of the
State legislatures as published on India Code, and republished together with commentary and other original matter under
section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by
eCourtsIndia. 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. This page is not a substitute for legal advice.
