Insertion of new section 20A
Section 39 of the Finance Act, 1980 deals with insertion of new section 20A. Insertion of new section 20A 39. Jn the Wealth-tax Act, after section 20, the following section shall be inserted, namely:— Assessment after partiar partition of a Hindu undivided family '20A.
Insertion of new section 20A
39. Jn the Wealth-tax Act, after section 20, the following section shall be inserted, namely:—
Assessment after partiar partition of a Hindu undivided family
'20A. Where a partial partition has taken place after the 3lst day of December, 1978, among the members of a Hindu undivided family hitherto assessed as undivided,—
(a) such family shall continue to be liable to be assessed under this Act as if no such partial partition had taken place;
(b) each member or group of members of such family immediately before such partial partition and the family shall be jointly and severally liable for any tax, penalty, interest, fine or other sum payable under this Act by the family in respect of any period, whether before or after such partial partition;
(c) the several liability of any member of group of members aforesaid shall be computed according to the portion of the Joint family property allotted to him or it at such partial partition,
and the provisions of this Act shall apply accordingly.
Explanation.-For the purposes of this section, "partial parti-tion" 'shall have the meaning assigned to it in clause (b) of the ''Explanation to section 171 of the Income-tax Act'.
[Finance (No.
2) Act, 1980]
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Section 39, 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 39
What does Section 39 of the Finance Act deal with?
Section 39 of the Finance Act is headed "Insertion of new section 20A". Insertion of new section 20A 39. Jn the Wealth-tax Act, after section 20, the following section shall be inserted, namely:— Assessment after partiar partition of a Hindu undivided family '20A.
How do I find court cases under Section 39 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 39, section 39 Finance Act 1980, section 39 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 39 of the Finance Act, and has it changed?
Its own text turns on section 20 (Amendment of section 80RR), Income-tax Act 171 (Assessment after partition of a Hindu undivided family), so none of them can safely be read on its own.
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
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