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Section20
The Finance Act, 1977

Amendment of section 104

In force Act 11 of 1977 As on 07 Oct 2026

Act 11 of 1977 Ministry Finance Enacted 06 Aug 1977 Cited by 1 provision

Section 20 of the Finance Act, 1977 deals with amendment of section 104. Amendment of section 104 20. In section 104 of the Income-tax Act, for sub-section (4), the following sub-section and Explanation shall be substituted with effect from the 1st day of April, 1978, namely: — "(4) Without prejudice to the provisions of section 108, nothing contained in this section sha The Act was enacted on 06 Aug 1977.

Amendment of section 104

20. In section 104 of the Income-tax Act, for sub-section (4), the following sub-section and Explanation shall be substituted with effect from the 1st day of April, 1978, namely: —

"(4) Without prejudice to the provisions of section 108, nothing contained in this section shall apply to—

(a) an Indian company whose business consists mainly in the construction of ships or in the manufacture or processing of goods or in mining or in the generation or distribution of electricity or any other form of power;

(b) 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.

Explanation.—For the purposes of clause (a) of this sub-section, the business of a company shall be deemed to consist mainly in the construction of ships or in the manufacture or processing of goods or in mining or in the generation or distribution of electricity or any other form of power, if the income attributable to any of the aforesaid activities included in its gross total income for the relevant previous year is not less than fifty-one per cent of such total income".

[Finance (No.

2) Act, 1977]

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Section 20, The Finance Act, 1977 (Act 11 of 1977).

Cross-references

Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.

Referred to by 1

  1. s. Fifth Schedule Fifth Schedule

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 104". Amendment of section 104 20. In section 104 of the Income-tax Act, for sub-section (4), the following sub-section and Explanation shall be substituted with effect from the 1st day of April, 1978, namely: — "(4) Without prejudice to the provisions of section 108, nothing contained in this section sha

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 1977 20, section 20 Finance Act 1977, 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.

What should I read with Section 20 of the Finance Act, and has it changed?

1 other provision in this corpus refers back to it.

When was Section 20 of the Finance Act enacted?

Section 20 of the Finance Act, cited as Finance Act 1977 20, was enacted on 06 Aug 1977 as Act 11 of 1977. 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.