An Act to give effect to the financial proposals of the Central Government for the financial year 1972-1973.

Act 16 of 1972 Enacted 28 May 1972 Department Department of Revenue

Administered by. Ministry of Finance, Department of Revenue · Other Acts of 1972

What this Act covers

The Finance Act for 1972. Its First Schedule carries the rates of income-tax for the year; the rest amends the Income-tax Act and the other fiscal statutes. The rate of tax for a year is fixed here and not in the Income-tax Act.

Sections

Type to filter. 61 sections.

1. 1Short title and commencement
2. 2Income-tax
3. 3Amendment of section 2
4. 4Amendment of section 10
5. 5Amendment of section 11
6. 6Substitution of new sections for section 12
7. 7Amendment of section 13
8. 8Amendment of section 45
9. 9Insertion of new section 54C
10. 10Amendment of section 56
11. 11Insertion of new section 74A
12. 12Amendment of section 75
13. 13Amendment of section 77
14. 14Amendment of section 80A
15. 15Amendment of section 80B
16. 16Amendment of section 80C
17. 17Amendment of section 80G
18. 18Omission of section 80I
19. 19Amendment of section 80J
20. 20Amendment of section 80L
21. 21Omission of section 80Q
22. 22Insertion of new section 80TT
23. 23Substitution of new section for section 90
24. 24Amendment of section 125
25. 25Amendment of sections 132A, 201, 213 to 217, 220, 243 and 244 and Second Schedule
26. 26Amendment of section 139
27. 27Amendment of section 164
28. 28Insertion of new sections 194B and 194C
29. 29Amendment of section 197
30. 30Amendment of sections 198, 199, 200,202, and 203
31. 31Amendment of section 204
32. 32Amendment of section 205
33. 33Amendment of section 207
34. 34Amendment of section 208
35. 35Amendment of section 209
36. 36Amendment of section 211
37. 37Amendment of section 2l2
38. 38Amendment of section 215
39. 39Insertion of new section 228A
40. 40Amendment of section 252
41. 41Amendment of section 295
42. 42Amendment of Fourth Schedule
43. 43Omission of Sixth Schedule
44. 44Amendment of section 2
45. 45Amendment of section 5
46. 46Insertion of new section 21A
47. 47Amendment of sections 31 and 34A
48. 48Amendment of section 32
49. 49Amendment of section 44A
50. 50Amendment of section 45
51. 51Amendment of section 46
52. 52Amendment of sections 32 and 33A
53. 53Amendment of section 33
54. 54Amendment of section 44
55. 55Amendment of section 45
56. 56Amendment of section 46
57. 57Substitution of new section for section 24A
58. 58Amendment of section 25
59. 59Certain casual and non-recurring receipts not to be included in the total income for the assessment year 1972-73
60. 60Applicability of revised rate of interest
61. First ScheduleFirst Schedule

Related Acts

• The General Insurance Business (Nationalisation) Act, 197248 sections
• The Taxation Laws (Extension to Jammu and Kashmir) Act, 19724 sections
• The Finance Act, 197139 sections
• The Comptroller Auditor-General's (Duties, Powers and Conditions of Service) Act, 197127 sections
• The Finance Act, 197324 sections
• The Interest-tax Act, 197437 sections
• The Banking Companies (Acquisition and Transfer of Undertakings) Act, 197029 sections
• The Finance Act, 197029 sections

Provenance. 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.

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. Every one of the 61 sections of this Act has its own page. This page is not a substitute for legal advice.