{"act":{"id":"finance-act-2011","short_title":"The Finance Act, 2011","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2011-2012.","act_number":null,"act_year":2011,"enact_date":null,"enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":36,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2011/"},"unit":"section","section":{"number":"7","heading":"Amendment of section 36","text":"Amendment of section 36. 7. In section 36 of the Income-tax Act, in sub-section (1), after clause (iv),  the following shall be inserted with effect from the 1st day of April, 2012, namely:— ‘( iva) any sum paid by the assessee as an employer by way of contribution towards a pension scheme, as referred to in section 80CCD, on account of an employee to the extent it does not exceed ten per cent of the salary of the employee in the previous year. Explanation.—For the purposes of this clause, \"salary\" includes dearness allowance, if the terms of employment so provide, but excludes all other allowances and perquisites;’. © Copyright. Taxmann Publications Pvt. Ltd.","html":"<p><b>Amendment of section 36.</b></p><p><b>7.</b> In section 36 of the Income-tax Act, in sub-section (1)<i>, </i>after clause (<i>iv</i>)<i>, </i> the following shall be inserted with effect from the 1st day of April, 2012, namely:—</p><p><i> ‘</i>( <i>iva</i>)<i> </i>any sum paid by the assessee as an employer by way of contribution towards a pension scheme, as referred to in section 80CCD, on account of an employee to the extent it does not exceed ten per cent of the salary of the employee in the previous year.</p><p><i>Explanation.</i>—For the purposes of this clause, \"salary\" includes dearness allowance, if the terms of employment so provide, but excludes all other allowances and perquisites;’.</p><p>© Copyright. Taxmann Publications Pvt. Ltd.</p>","words":113,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2011/section/7/","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."}