Amendment of section 52
Section 13 of the Finance Act, 1964 deals with amendment of section 52. Amendment of section 52 13. In the Income-tax Act, section 52 shall be re-numbered as sub-section (1) thereof and after sub-section (1) as so re-numbered, the following sub-section shall be inserted, namely:— "(2) Without prejudice to the provisions of sub-section (1), if in the opinion of the Incom
Amendment of section 52
13. In the Income-tax Act, section 52 shall be re-numbered as sub-section (1) thereof and after sub-section (1) as so re-numbered, the following sub-section shall be inserted, namely:—
"(2) Without prejudice to the provisions of sub-section (1), if in the opinion of the Income-tax Officer the fair market value of a capital asset transferred by an assessee as on the date of the transfer exceeds the full value of the consideration declared by the assessee in respect of the transfer of such capital asset by an amount of not less than fifteen per cent, of the value so declared, the full value of the consideration for such capital asset shall, with the previous approval of the Inspecting Assistant Commissioner, be taken to be its fair market value on the date of its transfer.".
[Finance Act, 1964]
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Section 13, The Finance Act, 1964 (Act 5 of 1964).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Questions about Section 13
What does Section 13 of the Finance Act deal with?
Section 13 of the Finance Act is headed "Amendment of section 52". Amendment of section 52 13. In the Income-tax Act, section 52 shall be re-numbered as sub-section (1) thereof and after sub-section (1) as so re-numbered, the following sub-section shall be inserted, namely:— "(2) Without prejudice to the provisions of sub-section (1), if in the opinion of the Incom
How do I find court cases under Section 13 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 1964 13, section 13 Finance Act 1964, section 13 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 13 of the Finance Act, and has it changed?
Its own text turns on section 52 (Amendment of Act 18 of 1958), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 1964 as Act 5 of 1964. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule5142 words
- 44. Insertion of new Chapter4282 words
- 2. Income-tax and super-tax1285 words
- 52. Amendment of Act 18 of 19581055 words
- 51. Amendment of Act 29 of 1957796 words
- 30. Substitution of new section for section 132712 words
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