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Section33
The Finance Act, 1966

Amendment of section 220ZB

In force Act 13 of 1966 As on 16 Oct 2026

Act 13 of 1966 Ministry Finance Enacted 13 May 1966 Cited by 4 provisions

Section 33 of the Finance Act, 1966 deals with amendment of section 220ZB. Amendment of section 220ZB 33. In section 280ZB of the Income-tax Act, in Explanation 2, for the sentence beginning with the words "The amount of income-tax payable by the company" and ending with the words ''during the previous year or any previous year prior to that year.", the following shall be The Act was enacted on 13 May 1966.

Amendment of section 220ZB

33. In section 280ZB of the Income-tax Act, in Explanation 2, for the sentence beginning with the words "The amount of income-tax payable by the company" and ending with the words ''during the previous year or any previous year prior to that year.", the following shall be substituted, namely:—

"The amount of income-tax payable by the company for any assessment year shall be computed after making allowance for any relief, rebate or deduction in respect of income-tax to which the company is entitled under the provisions of this Act or the annual Finance Act and after deducting from such amount of income-tax—

(a) the amount of additional income-tax, if any, payable by the company under the provisions of section 104; and

(b) (i) in respect of the assessment year commencing on the 1st day of April, 1965, the amount, if any, by which the rebate of income-tax admissible to the company under the provisions of the Finance Act, 1965 (10 of 1965), is, under the provisions of the said Act, reduced with reference to the face value of any bonus shares or the amount of any bonus issued by the company to its shareholders during the previous year or any previous year prior to that year or with reference to any amount of dividends declared or distributed by it during the previous year or any previous year prior to that year; or

(ii) in respect of the assessment year commencing on the 1st day of April, 1966, or any subsequent assessment year, the amount of income-tax if any, payable by the company under the provisions of the annual Finance Act with reference to the relevant amount of distributions of dividends by it,".

[Finance Act, 1966]

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Section 33, 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.

Referred to by 4

  1. s. 7 Amendment of section 33
  2. s. 9 Amendment of section 34
  3. s. 37 Amendment of Fifth Schedule
  4. s. 38 Amendment of Act 54 of 1953

Questions about Section 33

What does Section 33 of the Finance Act deal with?

Section 33 of the Finance Act is headed "Amendment of section 220ZB". Amendment of section 220ZB 33. In section 280ZB of the Income-tax Act, in Explanation 2, for the sentence beginning with the words "The amount of income-tax payable by the company" and ending with the words ''during the previous year or any previous year prior to that year.", the following shall be

How do I find court cases under Section 33 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 33, section 33 Finance Act 1966, section 33 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 33 of the Finance Act, and has it changed?

4 other provisions in this corpus refer back to it.

When was Section 33 of the Finance Act enacted?

Section 33 of the Finance Act, cited as Finance Act 1966 33, 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.