{"act":{"id":"finance-act-2000","short_title":"The Finance Act, 2000","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2000-2001.","act_number":null,"act_year":2000,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":82,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2000/"},"unit":"section","section":{"number":"33","heading":"Amendment of section 80HHBA","text":"Amendment of section 80HHBA. 33. In section 80HHBA of the Income-tax Act, with effect from the 1st day of April, 2001,— (a) in sub-section (1), for the words \"a deduction from such profits and gains of an amount equal to fifty per cent thereof\", the following shall be substituted, namely:— \"a deduction from such profits and gains of an amount equal to— (i) forty per cent thereof for an assessment year beginning on the 1st day of April, 2001; (ii) thirty per cent thereof for an assessment year begin­ning on the 1st day of April, 2002; (iii) twenty per cent thereof for an assessment year beginning on the 1st day of April, 2003; (iv) ten per cent thereof for an assessment year beginning on the 1st day of April, 2004; and no deduction shall be allowed in respect of the assessment year beginning on the 1st day of April, 2005 and any subsequent assessment year\"; (b) in sub-section (2),— (i) in clause (ii), for the words, brackets and figure \"fifty per cent of the profits and gains referred to in sub-section (1)\", the words, brackets and figure \"such percentage of the profits and gains as is referred to in sub-section (1) in relation to the relevant assessment year\" shall be substituted; (ii) in the proviso, for the words, brackets and figure \"fifty per cent of the profits and gains referred to in sub-section (1)\", the words, brackets and figure \"such percentage of the profits and gains as is referred to in sub-section (1) in relation to the relevant assessment year\" shall be substituted. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 80HHBA.</b></p><p><b>33.</b> In section 80HHBA of the Income-tax Act, with effect from the 1st day of April, 2001,—</p><p>(<i>a</i>) in sub-section (1), for the words \"a deduction from such profits and gains of an amount equal to fifty per cent thereof\", the following shall be substituted, namely:—</p><p>\"a deduction from such profits and gains of an amount equal to—</p><p>(<i>i</i>) forty per cent thereof for an assessment year beginning on the 1st day of April, 2001;</p><p>(<i>ii</i>) thirty per cent thereof for an assessment year begin­ning on the 1st day of April, 2002;</p><p>(<i>iii</i>) twenty per cent thereof for an assessment year beginning on the 1st day of April, 2003;</p><p>(<i>iv</i>) ten per cent thereof for an assessment year beginning on the 1st day of April, 2004;</p><p>and no deduction shall be allowed in respect of the assessment year beginning on the 1st day of April, 2005 and any subsequent assessment year\";</p><p>(<i>b</i>) in sub-section (2),—</p><p>(<i>i</i>) in clause (<i>ii</i>), for the words, brackets and figure \"fifty per cent of the profits and gains referred to in sub-section (1)\", the words, brackets and figure \"such percentage of the profits and gains as is referred to in sub-section (1) in relation to the relevant assessment year\" shall be substituted;</p><p>(<i>ii</i>) in the proviso, for the words, brackets and figure \"fifty per cent of the profits and gains referred to in sub-section (1)\", the words, brackets and figure \"such percentage of the profits and gains as is referred to in sub-section (1) in relation to the relevant assessment year\" shall be substituted.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":269,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2000/section/33/","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."}