# The Finance Act, 1981, Section 5: Amendment of section 32A

- Act: The Finance Act, 1981 (Act 16 of 1981)
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1981/section/5/

## Text

Amendment of section 32A. 5. In, section 32A of the Income-tax Act, in clause (2) of the Explanation below sub-section (2), for the words "the business of the undertaking does not exceed ten lakh rupees; and for this purpose the value of any machinery or plant shall be,—", the following shall be substituted, namely:—. "the business of the undertaking does not exceed,— (i) in a ease where the previous year ends before the 1st day of August, 1980, ten lakh rupees; and (ii) in a case where the previous year ends after the 31st day of July, 1980, twenty lakh rupees, and for this purpose the value of any machinery or plant shall be,—" [Finance Act, 1981] © Copyright. Taxmann Publications Pvt. Ltd.

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