Amendment of Act 42 of 1999
Section 229 of the Finance Act, 2016 deals with amendment of Act 42 of 1999. Amendment of Act 42 of 1999 229. In the Foreign Exchange Management Act, 1999, after section 14, the following section shall be inserted, namely:— "14A. The Act was enacted on 27 Jun 2016.
Amendment of Act 42 of 1999
229. In the Foreign Exchange Management Act, 1999, after section 14, the following section shall be inserted, namely:—
"14A. Power to recover arrears of penalty.—(1) Save as otherwise provided in this Act, the Adjudicating Authority may, by order in writing, authorise an officer of Enforcement not below the rank of Assistant Director to recover any arrears of penalty from any person who fails to make full payment of penalty imposed on him under section 13 within the period of ninety days from the date on which the notice for payment of such penalty is served on him.
(2) The officer referred to in sub-section (1) shall exercise all the like powers which are conferred on the income-tax authority in relation to recovery of tax under the Income-tax Act, 1961 (43 of 1961) and the procedure laid down under the Second Schedule to the said Act shall mutatis mutandis apply in relation to recovery of arrears of penalty under this Act.".
Section 229, The Finance Act, 2016.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Questions about Section 229
What does Section 229 of the Finance Act deal with?
Section 229 of the Finance Act is headed "Amendment of Act 42 of 1999". Amendment of Act 42 of 1999 229. In the Foreign Exchange Management Act, 1999, after section 14, the following section shall be inserted, namely:— "14A.
How do I find court cases under Section 229 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 2016 229, section 229 Finance Act 2016, section 229 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 229 of the Finance Act, and has it changed?
Its own text turns on section 13 (Amendment of section 32), section 14 (Amendment of section 32AC), so none of them can safely be read on its own.
When was Section 229 of the Finance Act enacted?
Section 229 of the Finance Act, cited as Finance Act 2016 229, was enacted on 27 Jun 2016. It is in force as at the date shown on this page.
Other sections of this Act
- Fourth Schedule. Fourth Schedule21791 words
- Eighth Schedule. Eighth Schedule19903 words
- First Schedule. First Schedule8145 words
- 2. Income-tax3742 words
- 222. Insertion of new Chapter III F2100 words
- 70. Substitution of new section for section 1531931 words
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.