Amendment of section 16
Section 7 of the Finance Act, 1970 deals with amendment of section 16. Amendment of section 16 7. In section 16 of the Income-tax Act, for clause (iv), the following clause shall be substituted with effect from the 1st day of April, 1971, namely:— "(iv) where the assessee is not in receipt of a conveyance allowance, whether as such or as part of his salary, in respect The Act was enacted on 14 May 1970.
Amendment of section 16
7. In section 16 of the Income-tax Act, for clause (iv), the following clause shall be substituted with effect from the 1st day of April, 1971, namely:—
"(iv) where the assessee is not in receipt of a conveyance allowance, whether as such or as part of his salary, in respect of expenditure on travelling for the purposes of his employment, a sum calculated in respect of each calendar month or part thereof comprised in the period of his employment during the previous year, on the basis provided hereunder, namely:.—
(a) where the assessee owns a motor car which is used for the purposes of his employment Rs. 200; (b) where the assessee owns a motor cycle, scooter or other moped which is used for the purposes of his employment Rs. 60; (c) in any other case Rs. 35;". [Finance Act, 1970]
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Section 7, The Finance Act, 1970 (Act 19 of 1970).
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Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Questions about Section 7
What does Section 7 of the Finance Act deal with?
Section 7 of the Finance Act is headed "Amendment of section 16". Amendment of section 16 7. In section 16 of the Income-tax Act, for clause (iv), the following clause shall be substituted with effect from the 1st day of April, 1971, namely:— "(iv) where the assessee is not in receipt of a conveyance allowance, whether as such or as part of his salary, in respect
How do I find court cases under Section 7 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 7, section 7 Finance Act 1970, section 7 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 7 of the Finance Act, and has it changed?
Its own text turns on section 16 (Amendment of section 80MM), Income-tax Act 16 (Deductions from salaries), so none of them can safely be read on its own.
When was Section 7 of the Finance Act enacted?
Section 7 of the Finance Act, cited as Finance Act 1970 7, 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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