# The Finance Act, 1966, Section 12: Amendment of section 43

- Act: The Finance Act, 1966 (Act 13 of 1966)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1966/section/12/

## Text

Amendment of section 43 12. In section 43 of the Income-tax Act, to clause (1), the following proviso Shall be added, namely:— ''Provided that where the actual cost of an asset, being a motor car acquired by the assessee after the 28th day of February, l966, exceeds twenty-five thousand rupees, the ex cess of the actual cost over such amount shall be ignored, and the actual cost thereof shall be taken to be twenty-five thousand rupees.". [Finance Act, 1966] © Copyright. Taxmann Publications Pvt. Ltd.

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