{"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":"44","heading":"Amendment of section 80RRA","text":"Amendment of section 80RRA. 44. In section 80RRA of the Income-tax Act, for the portion beginning with the words \"a deduction from such remuneration\" and ending with the words \"authority may allow in this behalf\", the following shall be substituted with effect from the 1st day of April, 2001, namely:— \"a deduction from such remuneration of an amount equal to— (i) sixty per cent of such remuneration for an assessment year beginning on the 1st day of April, 2001; (ii) forty-five per cent of such remuneration for an assess­ment year beginning on the 1st day of April, 2002; (iii) thirty per cent of such remuneration for an as­sessment year beginning on the 1st day of April, 2003; (iv) fifteen per cent of such remuneration for an assessment year beginning on the 1st day of April, 2004, as is brought into India by, or on behalf of, the assessee in convertible foreign exchange within a period of six months from the end of the previous year or within such further period as the competent authority may allow in this behalf 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\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 80RRA.</b></p><p><b>44.</b> In section 80RRA of the Income-tax Act, for the portion beginning with the words \"a deduction from such remuneration\" and ending with the words \"authority may allow in this behalf\", the following shall be substituted with effect from the 1st day of April, 2001, namely:—</p><p>\"a deduction from such remuneration of an amount equal to—</p><p>(<i>i</i>) sixty per cent of such remuneration for an assessment year beginning on the 1st day of April, 2001;</p><p>(<i>ii</i>) forty-five per cent of such remuneration for an assess­ment year beginning on the 1st day of April, 2002;</p><p>(<i>iii</i>) thirty per cent of such remuneration for an as­sessment year beginning on the 1st day of April, 2003;</p><p>(<i>iv</i>) fifteen per cent of such remuneration for an assessment year beginning on the 1st day of April, 2004,</p><p>as is brought into India by, or on behalf of, the assessee in convertible foreign exchange within a period of six months from the end of the previous year or within such further period as the competent authority may allow in this behalf 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>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":210,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2000/section/44/","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."}