Finance Act 2007 Section 61 - Bare Act |
| State | Central Government |
| Year | 2007 |
| Section Title | Amendment of Section 206c |
In section 206C of the Income-tax Act, in sub-section (1C), after the Table, the following Explanations shall be inserted with effect from the 1st day of June, 2007, namely:--
'Explanation 1.-- For the purposes of this sub-section, "mining and quarrying" shall not include mining and quarrying of mineral oil.
Explanation 2.-- For the purposes of Explanation 1, "mineral oil" includes petroleum and natural gas.'.