# The Finance Act, 1975, Section 21: Amendment of section 195

- Act: The Finance Act, 1975 (Act 25 of 1975)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1975/section/21/

## Text

Amendment of section 195 21. In section 195 of the Income-tax Act, in sub-section (1), after the proviso, the following proviso shall be inserted, namely:— 'Provided further that the deduction of income-tax from any sum. being income chargeable under the head "Capital gains" relating to capital assets other than short-term capital assets, paid to a company which is neither an Indian company nor a company which has made the prescribed arrangements for the declaration and payment of dividends within India, shall be of an amount equal to the amount of income-tax on such sum calculated in accordance with the provisions of clause (i) of section 115.'. [Finance Act, 1975] © Copyright. Taxmann Publications Pvt. Ltd.

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