Amendment of section 43
Section 12 of the Finance Act, 1966 deals with amendment of section 43. 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 The Act was enacted on 13 May 1966.
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]
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Section 12, 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.
Questions about Section 12
What does Section 12 of the Finance Act deal with?
Section 12 of the Finance Act is headed "Amendment of section 43". 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
How do I find court cases under Section 12 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 12, section 12 Finance Act 1966, section 12 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 12 of the Finance Act, and has it changed?
Its own text turns on section 43 (Amendment of Act 7 of 1964), Income-tax Act 43 (Definitions of certain terms relevant to income from profits and gains of business or profession), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.
When was Section 12 of the Finance Act enacted?
Section 12 of the Finance Act, cited as Finance Act 1966 12, 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
- First Schedule. First Schedule3424 words
- 2. Income-tax1599 words
- 10. Insertion of new section 35A687 words
- 30. Substitution of new sections for 280O and 280P634 words
- 38. Amendment of Act 54 of 1953615 words
- 41. Amendment of Act 18 of 1958558 words
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