{"act":{"id":"finance-act-1975","short_title":"The Finance Act, 1975","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 1975-1976.","act_number":"25","act_year":1975,"enact_date":"1975-05-09","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":31,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-1975/"},"unit":"section","section":{"number":"10","heading":"Amendment of section 80C","text":"Amendment of section 80C 10. In section 80C of the Income-tax Act, for sub-section (1), the following sub-section shall be substituted with effect from the 1st day of April, 1976, namely:— \"(1) In computing the total income of an assessee, there shall be deducted, in accordance with and subject to the provisions of this section, an amount calculated, with reference to the aggregate of the sums specified in sub-section (2), at the following rates, namely: — (a) where such aggregate does not exceed Rs. 4,000 | The whole of such aggregate; (b) where such aggregate exceeds Rs. 4,000 but does not exceed Rs. 10,000 | Rs. 4,000 plus 50 per cent, of the amount by which such aggre- gate exceeds Rs. 4,000; (c) where such aggregate exceeds Rs. 10,000 | Rs. 7,000 plus 46 per cent. of the amount by which such aggregate exceeds Rs. 10,000.\". [Finance Act, 1975] © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 80C</b></p><p><b>10.</b> In section 80C of the Income-tax Act, for sub-section (<i>1</i>), the following sub-section shall be substituted with effect from the 1st day of April, 1976, namely:—</p><p>\"(<i>1</i>) In computing the total income of an assessee, there shall be deducted, in accordance with and subject to the provisions of this section, an amount calculated, with reference to the aggregate of the sums specified in sub-section (<i>2),</i> at the following rates, namely: —</p><div class=\"tablewrap\"><table class=\"dtable\"><tr><td>(<i>a</i>) where such aggregate does not exceed Rs. 4,000</td><td>The whole of such aggregate;</td></tr><tr><td>(<i>b</i>) where such aggregate exceeds Rs. 4,000 but does not exceed Rs. 10,000</td><td>Rs. 4,000 <i>plus</i> 50 per cent, of the amount by which such aggre- gate exceeds Rs. 4,000;</td></tr><tr><td>(<i>c</i>) where such aggregate exceeds Rs. 10,000</td><td>Rs. 7,000 <i>plus</i> 46 per cent. of the amount by which such aggregate exceeds Rs. 10,000.\".</td></tr></table></div><p>[Finance Act, 1975]</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":155,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1975/section/10/","note":null,"source_note":"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.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}