Amendment of section 161
Section 20 of the Finance Act, 1984 deals with amendment of section 161. Amendment of section 161. 20. In section 161 of the Income-tax Act, after sub-section (1), the following sub-section shall be inserted with effect from the 1st day of April, 1985, namely: — '(1A) Notwithstanding anything contained in sub-section (1), where any income in respect of which the person m
Amendment of section 161.
20. In section 161 of the Income-tax Act, after sub-section (1), the following sub-section shall be inserted with effect from the 1st day of April, 1985, namely: —
'(1A) Notwithstanding anything contained in sub-section (1), where any income in respect of which the person mentioned in clause (iv) of sub-section (1) of section 160 is liable as representative assessee consists of, or includes, profits and gains of business, tax shall be charged on the whole of the income in respect of which such person is so liable at the maximum marginal rate:
Provided that the provisions of this sub-section shall not apply where such profits and gains are receivable under a trust declared by any person by will exclusively for the benefit of any relative dependent on him for support and maintenance, and such trust is the only trust so declared by him.
Explanation.—For the purposes of this sub-section, "maximum marginal rate" shall have the meaning assigned to it in Explanation 2 below sub-section (3) of section 164.'.
[Finance Act, 1984]
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Section 20, The Finance Act, 1984.
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Questions about Section 20
What does Section 20 of the Finance Act deal with?
Section 20 of the Finance Act is headed "Amendment of section 161". Amendment of section 161. 20. In section 161 of the Income-tax Act, after sub-section (1), the following sub-section shall be inserted with effect from the 1st day of April, 1985, namely: — '(1A) Notwithstanding anything contained in sub-section (1), where any income in respect of which the person m
How do I find court cases under Section 20 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 1984 20, section 20 Finance Act 1984, section 20 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 20 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 161 (Liability of representative assessee), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 1984. India Code records no commencement date for it. It is in force as at the date shown on this page.
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