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Section11
The Finance Act, 1966

Amendment of section 36

In force Act 13 of 1966 As on 17 Oct 2026

Act 13 of 1966 Ministry Finance Enacted 13 May 1966 Cited by 1 provision

Section 11 of the Finance Act, 1966 deals with amendment of section 36. Amendment of section 36 11. In section 36 of the Income-tax Act, in sub-section (1), in clause (viii), for the words "an amount not exceeding ten per cent. The Act was enacted on 13 May 1966.

Amendment of section 36

11. In section 36 of the Income-tax Act, in sub-section (1), in clause (viii), for the words "an amount not exceeding ten per cent. of the total income carried to such reserve account:", the following Shall be substituted, namely:—

"an amount not exceeding—

(a) in the case of a financial corporation whose paid-up share capital does not exceed three crores of rupees, twenty-five per cent.,

(b) in the case of any other financial corporation, ten per cent.,

of the total income carried to such reserve account:".

[Finance Act, 1966]

© Copyright. Taxmann Publications Pvt. Ltd.

Section 11, The Finance Act, 1966 (Act 13 of 1966).

Cross-references

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

This section refers to

  1. s. 36 Amendment of First Schedule
  2. Income-tax Act s. 36 Other deductions

Referred to by 1

  1. s. 38 Amendment of Act 54 of 1953

Questions about Section 11

What does Section 11 of the Finance Act deal with?

Section 11 of the Finance Act is headed "Amendment of section 36". Amendment of section 36 11. In section 36 of the Income-tax Act, in sub-section (1), in clause (viii), for the words "an amount not exceeding ten per cent.

How do I find court cases under Section 11 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 1966 11, section 11 Finance Act 1966, section 11 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 11 of the Finance Act, and has it changed?

Its own text turns on section 36 (Amendment of First Schedule), Income-tax Act 36 (Other deductions), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was Section 11 of the Finance Act enacted?

Section 11 of the Finance Act, cited as Finance Act 1966 11, was enacted on 13 May 1966 as Act 13 of 1966. 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.