{"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":"14","heading":"Amendment of section 58","text":"Amendment of section 58 14. In section 58 of the Income-tax Act, after sub-section (2), the following sub-section shall be inserted, with effect from the 1st day of June, 1976, namely: — '(3) In the case of an assessee, being a foreign company, the provisions of section 44D shall, so far as may be, apply in computing the income chargeable under the head \"Income from other sources\" as they apply in computing the income chargeable under the head \"Profits and gains of business or profession\".'. [Finance Act, 1976] © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 58</b></p><p><b>14</b><b><i>.</i></b> In section 58 of the Income-tax Act, after sub-section (<i>2</i>), the following sub-section shall be inserted, with effect from the 1st day of June, 1976, namely: —</p><p>'(<i>3</i>) In the case of an assessee, being a foreign company, the provisions of section 44D shall, so far as may be, apply in computing the income chargeable under the head \"Income from other sources\" as they apply in computing the income chargeable under the head \"Profits and gains of business or profession\".'.</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/14/","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."}