Insertion of new section 74A
Section 11 of the Finance Act, 1972 deals with insertion of new section 74A. Insertion of new section 74A. 11. In the Income-tax Act, after section 74, the following section shall be inserted, namely:— Looses from certain specified sources falling under the head "Income from other sources". The Act was enacted on 28 May 1972.
Insertion of new section 74A.
11. In the Income-tax Act, after section 74, the following section shall be inserted, namely:—
Looses from certain specified sources falling under the head "Income from other sources".
'74A. (1) Where the net result of the computation made for any assessment year in respect of any source falling under the head 'Income from other sources" and being a source specified in sub-section (2), is a loss, such loss shall not be set off except against income, if any, from the same source.
(2) The sources referred to in sub-section; (1) are-
(a) lotteries;
(b) crossword puzzles;
(c) races including horse races;
(d) card games;
(e) other games of any sort;
(f) gambling or betting of any form or nature whatsoever not falling under any of the foregoing clauses.'.
[Finance Act, 1972]
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Section 11, The Finance Act, 1972 (Act 16 of 1972).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 11
What does Section 11 of the Finance Act deal with?
Section 11 of the Finance Act is headed "Insertion of new section 74A". Insertion of new section 74A. 11. In the Income-tax Act, after section 74, the following section shall be inserted, namely:— Looses from certain specified sources falling under the head "Income from other sources".
How do I find court cases under Section 11 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 1972 11, section 11 Finance Act 1972, section 11 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 11 of the Finance Act, and has it changed?
7 other provisions in this corpus refer back to it.
When was Section 11 of the Finance Act enacted?
Section 11 of the Finance Act, cited as Finance Act 1972 11, was enacted on 28 May 1972 as Act 16 of 1972. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule4219 words
- 2. Income-tax884 words
- 26. Amendment of section 139612 words
- 46. Insertion of new section 21A576 words
- 45. Amendment of section 5547 words
- 28. Insertion of new sections 194B and 194C538 words
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