{"act":{"id":"finance-act-2003","short_title":"The Finance Act, 2003","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2003-2004.","act_number":null,"act_year":2003,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":108,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2003/"},"unit":"section","section":{"number":"13","heading":"Amendment of section 16","text":"Amendment of section 16. 13. In section 16 of the Income-tax Act, for clause (i), the following clause shall be substituted with effect from the 1st day of April, 2004, namely :— \"(i ) in the case of an assessee whose income from salary, before allowing a deduction under this clause,— (A) does not exceed five lakh rupees, a deduction of a sum equal to forty per cent of the salary or thirty thousand rupees, whichever is less; (B) exceeds five lakh rupees, a deduction of a sum of twenty thousand rupees;\". © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 16.</b></p><p><b>13.</b> In section 16 of the Income-tax Act, for clause (<i>i</i>), the following clause shall be substituted with effect from the 1st day of April, 2004, namely :—</p><p>\"(<i>i</i> ) in the case of an assessee whose income from salary, before allowing a deduction under this clause,—</p><p>(<i>A</i>) does not exceed five lakh rupees, a deduction of a sum equal to forty per cent of the salary or thirty thousand rupees, whichever is less;</p><p>(<i>B</i>) exceeds five lakh rupees, a deduction of a sum of twenty thousand rupees;\".</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":98,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2003/section/13/","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."}