Amendment of section 80MM
Section 16 of the Finance Act, 1970 deals with amendment of section 80MM. Amendment of section 80MM 16. In section 80MM of the Income-tax Act, in sub-section (1), for the portion beginning with the words "under an agreement" and ending with the words "total income of the assessee", the following shall be substituted, namely: — "under an agreement entered into by the asses The Act was enacted on 14 May 1970.
Amendment of section 80MM
16. In section 80MM of the Income-tax Act, in sub-section (1), for the portion beginning with the words "under an agreement" and ending with the words "total income of the assessee", the following shall be substituted, namely: —
"under an agreement entered into by the assessee with such person on or after the 1st day of April, 1969 and approved by the Central Government in this behalf, there shall be allowed a deduction from such income of an amount equal to forty per cent. thereof, in computing the total income of the assessee:
Provided that the application for such approval is made to the Central Government before the 1st day of October of the relevant assessment year.".
[Finance Act, 1970]
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Section 16, The Finance Act, 1970 (Act 19 of 1970).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Referred to by 1
Questions about Section 16
What does Section 16 of the Finance Act deal with?
Section 16 of the Finance Act is headed "Amendment of section 80MM". Amendment of section 80MM 16. In section 80MM of the Income-tax Act, in sub-section (1), for the portion beginning with the words "under an agreement" and ending with the words "total income of the assessee", the following shall be substituted, namely: — "under an agreement entered into by the asses
How do I find court cases under Section 16 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 1970 16, section 16 Finance Act 1970, section 16 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 16 of the Finance Act, and has it changed?
1 other provision in this corpus refers back to it.
When was Section 16 of the Finance Act enacted?
Section 16 of the Finance Act, cited as Finance Act 1970 16, was enacted on 14 May 1970 as Act 19 of 1970. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule4428 words
- 26. Amendment of Act 27 of 19572747 words
- 6. Substitution of new-section of section 131270 words
- 5. Amendment of section 11876 words
- 21. Substitution of new section for section 164872 words
- 2. Income-tax815 words
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