eCourtsIndia
IndiaCode Laws
Section21
The Finance Act, 1963

Amendment of Act 27 of 1957

In force Act 13 of 1963 As on 13 Oct 2026

Act 13 of 1963 Ministry Finance Enacted 28 Apr 1963 Cited by 1 provision

Section 21 of the Finance Act, 1963 deals with amendment of Act 27 of 1957. Amendment of Act 27 of 1957 21. In section 5 of the Wealth-tax Act, 1957,— (1) in sub-section (1)— (a) clause (xv) shall be omitted; The Act was enacted on 28 Apr 1963.

Amendment of Act 27 of 1957

21. In section 5 of the Wealth-tax Act, 1957,—

(1) in sub-section (1)—

(a) clause (xv) shall be omitted;

(b) in clause (xvi), for the words "twelve year national plan savings certificates held by the assessee", the words "twelve year national plan savings certificates, ten year defence deposite certificates and twelve year national defence certificate held by the assessee, to the extent to which the amount of such certificates or deposits do not exceed in each case the maximum amount permitted to be invested or deposited therein" shall be substituted;

(2) to sub-section (3), the following proviso shall be added, namely:—

"Provided that for the purpose of making any assessment for the financial year commencing on the 1st, day of April, 1963, the provisions of clause (b) shall not apply to ten year defence deposit certificates and twelve year national defence certificates held by the assessee on the relevant valuation date.".

[Finance Act, 1963]

© Copyright. Taxmann Publications Pvt. Ltd.

Section 21, The Finance Act, 1963 (Act 13 of 1963).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

This section refers to

  1. Wealth-tax Act s. 5 Exemptions in respect of certain assets

Referred to by 1

  1. s. 1 Short title and commencement

Questions about Section 21

What does Section 21 of the Finance Act deal with?

Section 21 of the Finance Act is headed "Amendment of Act 27 of 1957". Amendment of Act 27 of 1957 21. In section 5 of the Wealth-tax Act, 1957,— (1) in sub-section (1)— (a) clause (xv) shall be omitted;

How do I find court cases under Section 21 of the Finance Act?

In judgments and charge sheets this section is written several ways, and each form finds a different set of orders. These search the full text of every order eCourtsIndia holds, best matches first: Finance Act 1963 21, section 21 Finance Act 1963, section 21 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

What should I read with Section 21 of the Finance Act, and has it changed?

Its own text turns on Wealth-tax Act 5 (Exemptions in respect of certain assets), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was Section 21 of the Finance Act enacted?

Section 21 of the Finance Act, cited as Finance Act 1963 21, was enacted on 28 Apr 1963 as Act 13 of 1963. It is in force as at the date shown on this page.

Other sections of this Act

Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. 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. This page is not a substitute for legal advice.