Amendment of Act 38 of 1974
Section 53 of the Finance Act, 1981 deals with amendment of Act 38 of 1974. CHAPTER V Miscellaneous Amendment of Act 38 of 1974.
CHAPTER V
Miscellaneous
Amendment of Act 38 of 1974.
53. In the Compulsory Deposit Scheme (Income-tax Payers) Act, 1974,—
(a) in section 3, in sub-section (2), for the figures, letters and words "1st day of April, 1982", the figures, letters and words "1st day of April, 1984" shall be substituted;
(b) in section 4, in sub-section (2), in clause (iii), for the figures, letters and words "1st day of April, 1982", the figures, letters and words "1st day of April, 1984" shall be substituted;
(c) in section 8, with effect from the 1st day of June, 1981,—
(i) after sub-section (1), the following sub-section shall be inserted, namely:—
"(1A) Notwithstanding anything contained in subsection (1),—
(a) the amount of compulsory deposit made by or recovered from an individual; or
(b) the amount of compulsory deposit made by or recovered from any person who is assessable under the Income-tax Act in respect of the total income of an individual, on behalf of such individual,
shall, to the extent it has remained unpaid, be repayable, together with interest thereon,—
(i) where such individual has attained the age of seventy years before the 1st day of April, 1981, on the 1st day of June, 1981; and
(ii) in any other case, on the 1st day of the financial year immediately succeeding the financial year in which such individual attained seventy years of age.";
(ii) in sub-section (2), after the words, brackets and figure "under sub-section (2),", the words, brackets, figure and letter "or sub-section (1A),". shall be inserted.
[Finance Act, 1981]
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Section 53, The Finance Act, 1981 (Act 16 of 1981).
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Questions about Section 53
What does Section 53 of the Finance Act deal with?
Section 53 of the Finance Act is headed "Amendment of Act 38 of 1974". CHAPTER V Miscellaneous Amendment of Act 38 of 1974.
How do I find court cases under Section 53 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 53, section 53 Finance Act 1981, section 53 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 53 of the Finance Act, and has it changed?
Its own text turns on section 3 (Insertion of new section 10A), section 4 (Amendment of section 16), section 8 (Amendment of section 42), 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
- First Schedule. First Schedule7383 words
- 36. Insertion of new sections 7A to 7D2293 words
- 2. Income-tax1988 words
- 3. Insertion of new section 10A1080 words
- 37. Insertion of new sections 9A858 words
- 27. Insertion of new section 21AA541 words
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