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Section20
The Finance Act, 1971

Amendment of section 80N

In force Act 32 of 1971 As on 19 Oct 2026

Act 32 of 1971 Ministry Finance Enacted 10 Aug 1971

Section 20 of the Finance Act, 1971 deals with amendment of section 80N. Amendment of section 80N. 20. In section 80N of the Income-tax Act, with effect from the 1st day of April, 1972,— (a) for the words "assessee being an Indian company", the words and brackets "assessee, being an Indian company or a person (other than a company) who is resident in India," shall be sub The Act was enacted on 10 Aug 1971.

Amendment of section 80N.

20. In section 80N of the Income-tax Act, with effect from the 1st day of April, 1972,—

(a) for the words "assessee being an Indian company", the words and brackets "assessee, being an Indian company or a person (other than a company) who is resident in India," shall be substituted;

(b) for the words, figure and letters "Central Government in this behalf before the 1st day of October of the relevant assessment year". the words "Board in this behalf" shall be substituted;

(c) the following provisos shall be inserted at the end, namely:--

"Provided that the application for such approval is made to the Board before the 1st day of October of the relevant assessment year:

Provided further that the approval of the Board shall not be necessary in the case of any such agreement which has been approved for the purposes of the deduction under this section by the Central Government before the 1st day of April, 1972, and every application for such approval of any such agreement pending with the Central Government immediately before that day shall stand transferred to the Board for disposal."

[Finance (No.

2) Act, 1971]

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Section 20, The Finance Act, 1971 (Act 32 of 1971).

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 80N". Amendment of section 80N. 20. In section 80N of the Income-tax Act, with effect from the 1st day of April, 1972,— (a) for the words "assessee being an Indian company", the words and brackets "assessee, being an Indian company or a person (other than a company) who is resident in India," shall be sub

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 1971 20, section 20 Finance Act 1971, 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 1971 20, was enacted on 10 Aug 1971 as Act 32 of 1971. 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.