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Section20
The Finance Act, 1966

Amendment of section 104

In force Act 13 of 1966 As on 17 Oct 2026

Act 13 of 1966 Ministry Finance Enacted 13 May 1966

Section 20 of the Finance Act, 1966 deals with amendment of section 104. Amendment of section 104 20. In section 104 of the Income-tax Act,— (a) in sub-section (1),— (i) for the words, brackets and figure— "on the distributable income as reduced by— (i) the amount of dividends actually distributed, and", the words "on the distributable income as reduced by the amount of The Act was enacted on 13 May 1966.

Amendment of section 104

20. In section 104 of the Income-tax Act,—

(a) in sub-section (1),—

(i) for the words, brackets and figure—

"on the distributable income as reduced by—

(i) the amount of dividends actually distributed, and", the words "on the distributable income as reduced by the amount of dividends actually distributed, if any" shall be substituted;

(ii) clause (ii) shall be omitted;

(b) in sub-section (4),—

(i) in clause (a), for the words "wholly or mainly", the words "mainly in the construction of ships or" shall be substituted;

(ii) after clause (b), the following clause shall be, and shall be deemed always to have been, inserted, namely:—

"(c) a company which is neither an Indian company nor a company which has made the prescribed arrangements for the declaration and payment of dividends within India.";

(iii) in the Explanation, after the Words "consist mainly in", the words "the construction of ships or in" shall be inserted,.

[Finance Act, 1966]

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Section 20, The Finance Act, 1966 (Act 13 of 1966).

Questions about Section 20

What does Section 20 of the Finance Act deal with?

Section 20 of the Finance Act is headed "Amendment of section 104". Amendment of section 104 20. In section 104 of the Income-tax Act,— (a) in sub-section (1),— (i) for the words, brackets and figure— "on the distributable income as reduced by— (i) the amount of dividends actually distributed, and", the words "on the distributable income as reduced by the amount of

How do I find court cases under Section 20 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 20, section 20 Finance Act 1966, section 20 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.

When was Section 20 of the Finance Act enacted?

Section 20 of the Finance Act, cited as Finance Act 1966 20, 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.