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TypeBare Act JurisdictionCentral Government

Finance Act, 2001 Section 3

AMENDMENT OF SECTION 2 InS.2 of the Income-tax Act-,"

~2 min read
https://sooperkanoon.com/act/455326

Bare act section · Research

About this section

Finance Act, 2001 Section 3 is part of Finance Act, 2001 - AMENDMENT OF SECTION 2 InS.2 of the Income-tax Act-,". Read the section text below and explore Indian court judgments that cite it.

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Section Text

a) after clause (12), the following clause shall be inserted with effect from the 1st day of June, 2001, namely:" '( 12A) "books or books of account" include ledgers, day-books, cash books, account-books and other books, whether kept in the written form or as print-outs of data stored in a floppy, disc, tape or any other form of electro-magnetic data storage device;';

(b) after clause (22A), the following clause shall be inserted with effect from the 1st day of June, 2001, namely:" '(22AA) "document" includes an electronic record as defined in clause (t) of subsection (1) ofS.2 of the Information Technology Act, 2000-(21 of 2000);';

(c) in clause (24), in sub-clause (ix), the following

Explanation shall be inserted with effect from the 1st day of April, 2002, namely :" 'Explanation."For the purposes of this sub-clause,"

(i) "lottery" includes winnings, from prizes awarded to any person by draw of lots or by chance or in any other manner whatsoever, under any scheme or arrangement by whatever name called;

(ii) "card game and other game of any sort" includes any game show, an entertainment programme on television or electronic mode, in which people compete to win prizes or any other similar game;';

(d) after clause (28B), the following clause shall be inserted with effect from the 1st day of April, 2002, namely:" '(28BB) "insurer" means an insurer being an Indian insurance company, as defined under clause (7A) ofS.2 of the Insurance Act, 1938-(4 of 1938), which has been granted a certificate of registration undersection 3-of that Act;'.

Frequently asked questions

What does Finance Act, 2001 Section 3 provide?

Section Section 3 of the Finance Act, 2001 (AMENDMENT OF SECTION 2 InS.2 of the Income-tax Act-,") is reproduced on this page as part of the Finance Act, 2001. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance Act, 2001 Section 3?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 2001 Section 3. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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