# The Finance Act, 1975, Section 13: Insertion of new section 80JJ

- Act: The Finance Act, 1975 (Act 25 of 1975)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1975/section/13/

## Text

Insertion of new section 80JJ 13. In the Income-tax Act, after section 80J, the following section shall be inserted with effect from the 1st day of April, 1976, namely: — Deduction in respect of profits and gains from business of live-stock breeding or poultry or dairy farming "80JJ. Where the gross total income of an assessee includes any profits and gains derived from a business of live-stock breeding, or poultry or dairy farming, there shall be allowed, in computing the total income of the assessee, a deduction as specified hereunder, namely: — (a) in a case where the amount of such profits and gains does not exceed, in the aggregate, ten thousand rupees, the whole of such amount; and (b) in any other case, one-third of the aggregate amount of such profits and gains or1 ten thousand rupees, whichever is higher.". [Finance Act, 1975] © Copyright. Taxmann Publications Pvt. Ltd.

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