{"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":"17","heading":"Amendment of section 80G","text":"Amendment of section 80G 17. In section 80G of the Income-tax Act,— (a) for sub-section (1), the following sub-section shall be substituted with effect from the 1st day of April, 1977, 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,— (i) in a case where the aggregate of the sums specified in sub-section (2) includes any sum specified in sub-clause (vii) of clause (a) thereof, an amount equal to, the whole of such sum plus fifty per cent of the balance of such aggregate; and (ii) in any other case, an amount equal to fifty per cent of the aggregate of the sums specified in sub-section (2).\"; (b) in clause (a) of sub-section (2), with effect from the 1st day of April, 1977,— (i) in sub-clause (v), for the words \"for any charitable purpose;\", the words \"for any charitable purpose other than the purpose of promoting family planning; or \"shall be substituted; (ii) after sub-clause (v), the following sub-clauses shall be inserted, namely: — \"(vi) any authority referred to in clause (20A) of section 10; or (vii) the Government or to any such local authority, institution or association as may be approved in this behalf by the Central Government, to be utilised for the purpose of promoting family planning;\"; (c) in sub-section (4), for the words, brackets and figures \"subclauses (iv) and (v)\", the words, brackets and figures \"sub-clauses (iv). (v), (vi) and (vii)\" shall be substituted with effect from the 1st day of April, 1977; (d) after Explanation 4, the following Explanation shall be inserted, namely: — \"Explanation 5.—For the removal of doubts, it is hereby declared that no deduction shall be allowed under this section in respect of any donation unless such donation is of a sum of money.\". [Finance Act, 1976] © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 80G</b></p><p><b>17.</b> In section 80G of the Income-tax Act,—</p><p>(<i>a</i>) for sub-section (<i>1</i>), the following sub-section shall be substituted with effect from the 1st day of April, 1977, 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,—</p><p>(<i>i</i>) in a case where the aggregate of the sums specified in sub-section (<i>2</i>) includes any sum specified in sub-clause (<i>vii</i>) of clause (<i>a</i>) thereof, an amount equal to, the whole of such sum plus fifty per cent of the balance of such aggregate; and</p><p>(<i>ii</i>) in any other case, an amount equal to fifty per cent of the aggregate of the sums specified in sub-section (2).\";</p><p>(<i>b</i>) in clause (<i>a</i>) of sub-section (<i>2</i>), with effect from the 1st day of April, 1977,—</p><p>(<i>i</i>) in sub-clause (<i>v</i>), for the words \"for any charitable purpose;\", the words \"for any charitable purpose other than the purpose of promoting family planning; or \"shall be substituted;</p><p>(<i>ii</i>) after sub-clause (<i>v</i>), the following sub-clauses shall be inserted, namely: —</p><p>\"(<i>vi</i>) any authority referred to in clause (<i>20A</i>) of section 10; or (<i>vii</i>) the Government or to any such local authority, institution or association as may be approved in this behalf by the Central Government, to be utilised for the purpose of promoting family planning;\";</p><p>(<i>c</i>) in sub-section (<i>4</i>), for the words, brackets and figures \"subclauses (<i>iv</i>) and (<i>v</i>)\", the words, brackets and figures \"sub-clauses (<i>iv</i>). (<i>v), (vi</i>) and (<i>vii)\"</i> shall be substituted with effect from the 1st day of April, 1977;</p><p>(<i>d</i>) after <i>Explanation 4,</i> the following <i>Explanation</i> shall be inserted, namely: —</p><p>\"<i>Explanation</i> 5.—For the removal of doubts, it is hereby declared that no deduction shall be allowed under this section in respect of any donation unless such donation is of a sum of money.\".</p><p>[Finance Act, 1976]</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":317,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1976/section/17/","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."}