{"act":{"id":"finance-act-1976","short_title":"The Finance Act, 1976","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 1976-1977.","act_number":"66","act_year":1976,"enact_date":"1976-05-27","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":32,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-1976/"},"unit":"section","section":{"number":"13","heading":"Amendment of section 57","text":"Amendment of section 57 13. In section 57 of the Income-tax Act, the following proviso and Explanation shall be inserted at the end, with effect from the 1st day of June, 1976, namely: — 'Provided that nothing contained in clause (i) or clause (iii) shall apply in computing the income by way of dividends in the case of an assessee, being a foreign company. Explanation,- For the purposes of this section and section 58, \"foreign company \"shall have the same meaning as in section 80B.'. [Finance Act, 1976] © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of</b> <b>section 57</b></p><p><b>13.</b> In section 57 of the Income-tax Act, the following proviso and <i>Explanation</i> shall be inserted at the end, with effect from the 1st day of June, 1976, namely: —</p><p>'Provided that nothing contained in clause (<i>i</i>) or clause (<i>iii</i>) shall apply in computing the income by way of dividends in the case of an assessee, being a foreign company.</p><p><i>Explanation,-</i> For the purposes of this section and section 58, \"foreign company \"shall have the same meaning as in section 80B.'.</p><p>[Finance Act, 1976]</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":94,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1976/section/13/","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."}