Amendment of Section 194LD
Section 83 of the Finance Act, 2020 deals with amendment of Section 194LD. Amendment of section 194LD. 83. In section 194LD of the Income-tax Act,— (i) | for sub-section (2), the following sub-section shall be substituted, namely:— "(2) The income by way of interest referred to in sub-section (1) shall be the interest payable,— (a) | on or after the 1st day of June, 2013 b
Amendment of section 194LD.
83. In section 194LD of the Income-tax Act,—
(i) for sub-section (2), the following sub-section shall be substituted, namely:— "(2) The income by way of interest referred to in sub-section (1) shall be the interest payable,—
(a) on or after the 1st day of June, 2013 but before the 1st day of July, 2023 in respect of the investment made by the payee in —
(i) a rupee denominated bond of an Indian company; or (ii) a Government security;
(b) on or after the 1st day of April, 2020 but before the 1st day of July, 2023 in respect of the investment made by the payee in municipal debt securities:
Provided that the rate of interest in respect of bond referred to in sub-clause (i) of clause (a) shall not exceed the rate as the Central Government may, by notification in the Official Gazette, specify."; (ii) in the Explanation, after clause (b), the following clause shall be inserted, namely:— Section 83, The Finance Act, 2020.
'(ba) "municipal debt securities" shall have the meaning assigned to it in clause (m) of sub-regulation (1) of regulation 2 of the Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015 made under the Securities and Exchange Board of India Act, 1992 (15 of 1992);'.
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 83
What does Section 83 of the Finance Act deal with?
Section 83 of the Finance Act is headed "Amendment of Section 194LD". Amendment of section 194LD. 83. In section 194LD of the Income-tax Act,— (i) | for sub-section (2), the following sub-section shall be substituted, namely:— "(2) The income by way of interest referred to in sub-section (1) shall be the interest payable,— (a) | on or after the 1st day of June, 2013 b
How do I find court cases under Section 83 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 2020 83, section 83 Finance Act 2020, section 83 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 83 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 194LD (Income by way of interest on certain bonds and Government securities), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2020. 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
- 2. Income-tax5875 words
- 7. Amendment of Section 102233 words
- 53. Insertion of new sections 115BAC and 115BAD1625 words
- 153. Amendment of Act 28 of 20161366 words
- 116. Substitution of new section for section 8B1203 words
- 95. Amendment of Section 206C1116 words
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