Amendment of section 80JJ

Section 18 of the Finance Act, 1980 deals with amendment of section 80JJ. Amendment of section 80JJ 18. In section 80JJ of the Income-tax Act, with effect from the 1st day of April, 1981,— (a) in clause (a), for the words "ten thousand rupees", the words "fifteen thousand rupees" shall be substituted;

Amendment of section 80JJ

18. In section 80JJ of the Income-tax Act, with effect from the 1st day of April, 1981,—

(a) in clause (a), for the words "ten thousand rupees", the words "fifteen thousand rupees" shall be substituted;

(b) for clause (b), the following clause shall be substituted, namely: —

" (b) in any other case, one-fifth of the aggregate amount of such profits and gains or fifteen thousand rupees, whichever is higher:

Provided that in computing the aggregate amount of such profits and gains in a case where the profits and gains derived from a business of poultry farming exceed seventy-five thousand rupees, such excess shall be ignored.".

[Finance (No.

2) Act, 1980]

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Section 18, The Finance Act, 1980 (Act 44 of 1980).