Amendment of section 5
Section 37 of the Finance Act, 1980 deals with amendment of section 5. Amendment of section 5 37. In section 5 of the Wealth-tax Act, in sub-section (1), with effect from the 1st day of April, 1981 — (a) for clause (iva), the following clause shall be substituted, namely: — (iva) agricultural land comprised in any tea, coffee, rubber or cardamom plantation belonging to
Amendment of section 5
37. In section 5 of the Wealth-tax Act, in sub-section (1), with effect from the 1st day of April, 1981 —
(a) for clause (iva), the following clause shall be substituted, namely: —
(iva) agricultural land comprised in any tea, coffee, rubber or cardamom plantation belonging to the assessee;";
(b) in clause (ivb), for the words "agricultural land", the words "agricultural landJ'eomprised in any tea, coffee, rubber or cardamom plantation'' shall be substituted;
(c) in clause (viiib), for the words "in an orchard or a plantation", the words "in any tea, coffee, rubber or cardamom plantation" shall be substituted;
(d) for clause (xxvii), the following clause shall be substituted, namely: —
" (xxvii) any deposits with a financial corporation which is engaged in providing long-term finance for industrial develop-ment in India or with a public company formed and registered in India with the main object of carrying on the business of providing long-term finance for construction or purchase of houses in India for residential purposes:
Provided that the corporation or, as the case may be, the company is for the time being approved by the Central Government for the purposes of clause (viii) of sub-section (1) of section 36 of the Income-tax Act;".
[Finance (No.
2) Act, 1980]
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Section 37, The Finance Act, 1980 (Act 44 of 1980).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 37
What does Section 37 of the Finance Act deal with?
Section 37 of the Finance Act is headed "Amendment of section 5". Amendment of section 5 37. In section 5 of the Wealth-tax Act, in sub-section (1), with effect from the 1st day of April, 1981 — (a) for clause (iva), the following clause shall be substituted, namely: — (iva) agricultural land comprised in any tea, coffee, rubber or cardamom plantation belonging to
How do I find court cases under Section 37 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 1980 37, section 37 Finance Act 1980, section 37 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 37 of the Finance Act, and has it changed?
Its own text turns on section 5 (Amendment of section 16), Income-tax Act 36 (Other deductions), Wealth-tax Act 5 (Exemptions in respect of certain assets), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 1980 as Act 44 of 1980. India Code records no commencement date for it. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule7354 words
- 2. Income-tax1893 words
- 16. Insertion of new section 89-I1730 words
- 53. Amendment of Act 38 of 19741179 words
- 27. Amendment of section 164789 words
- 17. Amendment of section 80J780 words
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.