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Section20
The Finance Act, 1969

Amendment of section 217

In force Act 14 of 1969 As on 17 Oct 2026

Act 14 of 1969 Ministry Finance Enacted 13 May 1969

Section 20 of the Finance Act, 1969 deals with amendment of section 217. Amendment of section 217 20. In section 217 of the Income-tax Act, for sub-section (1), the following sub-sections shall be substituted with effect from the 1st day of April, 1970, namely:— "(1) Where, on making the regular assessment, the Income-tax Officer finds that any such person as is referred The Act was enacted on 13 May 1969.

Amendment of section 217

20. In section 217 of the Income-tax Act, for sub-section (1), the following sub-sections shall be substituted with effect from the 1st day of April, 1970, namely:—

"(1) Where, on making the regular assessment, the Income-tax Officer finds that any such person as is referred to in sub-section (3) of section 212 has not sent the estimate referred to therein, simple interest at the rate of nine per cent. per annum from the 1st day of April next following the financial year in which the advance tax was payable in accordance with the said sub-section up to the date of the regular assessment shall be payable by the assessee upon the amount equal to the assessed tax as defined in sub-section (5) of section 215.

(1A) Where, on making the regular assessment, the Income-tax Officer finds that any such person as is referred to in sub-section (3A) of section 212 has not sent the estimate referred to therein, simple interest at the rate of nine per cent. per annum from the 1st day of April next following the financial year in which the advance tax was payable in accordance with the said sub-section up to the date of the regular assessment shall be payable by the assessee upon the amount by which the advance tax paid by him falls short of the assessed tax as defined in sub-section (5) of section 215.".

[Finance Act, 1969]

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Section 20, The Finance Act, 1969 (Act 14 of 1969).

Cross-references

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

This section refers to

  1. Income-tax Act s. 217 Interest payable by assessee when no estimate made

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 217". Amendment of section 217 20. In section 217 of the Income-tax Act, for sub-section (1), the following sub-sections shall be substituted with effect from the 1st day of April, 1970, namely:— "(1) Where, on making the regular assessment, the Income-tax Officer finds that any such person as is referred

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 1969 20, section 20 Finance Act 1969, 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.

What should I read with Section 20 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 217 (Interest payable by assessee when no estimate made), so none of them can safely be read on its own.

When was Section 20 of the Finance Act enacted?

Section 20 of the Finance Act, cited as Finance Act 1969 20, was enacted on 13 May 1969 as Act 14 of 1969. 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.