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Section5
The Finance Act, 1981

Amendment of section 32A

In force Act 16 of 1981 As on 18 Oct 2026

Act 16 of 1981 Ministry Finance Cited by 1 provision

Section 5 of the Finance Act, 1981 deals with amendment of section 32A. 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;

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]

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Section 5, The Finance Act, 1981 (Act 16 of 1981).

Cross-references

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

This section refers to

  1. Income-tax Act s. 32A Investment allowance

Referred to by 1

  1. s. 27 Insertion of new section 21AA

Questions about Section 5

What does Section 5 of the Finance Act deal with?

Section 5 of the Finance Act is headed "Amendment of section 32A". 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;

How do I find court cases under Section 5 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 1981 5, section 5 Finance Act 1981, section 5 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 5 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 32A (Investment allowance), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.

When was the Finance Act enacted?

Finance Act was enacted in 1981 as Act 16 of 1981. 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

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.