{"act":{"id":"finance-act-1992","short_title":"The Finance Act, 1992","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 1992-1993.","act_number":"18","act_year":1992,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":109,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-1992/"},"unit":"section","section":{"number":"64","heading":"Substitution of sub-heading in Chapter XV","text":"Substitution of sub-heading in Chapter XV. 64. In Chapter XV of the Income-tax Act, for the sub-heading \"DD.—Association of persons and body of individuals\", the following shall be substituted, with effect from the 1st day of April, 1993, namely: — \"DD.—Firms, association of persons and body of individuals 167A. Charge of tax in the case of a firm—In the case of a firm which is assessable as a firm, tax shall be charged on its total income at the maximum marginal rate.\". [Finance Act, 1992] © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p>Substitution of sub-heading in Chapter XV.</p><p><b>64.</b> In Chapter XV of the Income-tax Act, for the sub-heading <i>\"DD.</i>—<i>Association of persons and body of individuals\",</i> the following shall be substituted, with effect from the 1st day of April, 1993, namely: —</p><p><i>\"DD.—Firms, association of persons and body of individuals</i></p><p>167A. <i>Charge of tax in the case of a firm—</i>In the case of a firm which is assessable as a firm, tax shall be charged on its total income at the maximum marginal rate.\".</p><p>[Finance Act, 1992]</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":91,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-1992/section/64/","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."}