Amendment of section 42
Section 8 of the Finance Act, 1981 deals with amendment of section 42. Amendment of section 42. 8. In section 42 of the Income-tax Act,— (a) in the opening portion, for the words "the association or participation in such business of the.
Amendment of section 42.
8. In section 42 of the Income-tax Act,—
(a) in the opening portion, for the words "the association or participation in such business of the. Central Government", the words "the association or participation of the Central Government or any person authorised by it in such business" shall be substituted;
(b) in clause (b),—
(i) the word "and" occurring at the end shall be omitted;
(ii) the following proviso shall be inserted, namely:-—
'Provided that in relation to any agreement entered into after the 31st day of March, 1981, this clause shall have effect subject to the modification that the words and figures "except assets on which allowance for depreciation is admissible tinder section 32" had been omitted; and';
(c) the following Explanation shall be inserted at the end, namely:—
'Explanation.—For the purposes of this section, "mineral oil" includes petroleum and natural gas'.
[Finance Act, 1981]
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Section 8, 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.
Questions about Section 8
What does Section 8 of the Finance Act deal with?
Section 8 of the Finance Act is headed "Amendment of section 42". Amendment of section 42. 8. In section 42 of the Income-tax Act,— (a) in the opening portion, for the words "the association or participation in such business of the.
How do I find court cases under Section 8 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 8, section 8 Finance Act 1981, section 8 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 8 of the Finance Act, and has it changed?
Its own text turns on section 32 (Amendment of section 23), section 42 (Insertion of new section 24AA), Income-tax Act 42 (Special provision for deductions in the case of business for prospecting, etc., for mineral oil), 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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