Amendment of section 5
Section 37 of the Finance Act, 1985 deals with amendment of section 5. Wealth-tax Amendment of section 5. 37.In section 5 of the Wealth-tax Act, 1957 (57 of 1957) (here in after referred to as the Wealth-tax Act),— (a) in sub-section (1) , with effect from the 1st day of April, 1986,— (i) the following proviso shall be added to clause (i), namely:— "Provided that nothi
Wealth-tax
Amendment of section 5.
37.In section 5 of the Wealth-tax Act, 1957 (57 of 1957) (here in after referred to as the Wealth-tax Act),—
(a) in sub-section (1) , with effect from the 1st day of April, 1986,—
(i) the following proviso shall be added to clause (i), namely:—
"Provided that nothing contained in this clause shall . apply to any property forming part of any business, not being a business referred to in clause (a) or clause (b) of sub-section (4A) of section, 11 of the Income-tax Act in respect of which separate books of account are maintained or a business carried on by an institution, fund or trust referred; to in clause (22) or clause (22A) or clause .(23B) or clause (23C) of section 10 of that Act;";
(ii) in clause (iv), the proviso shall be omitted;
(b) in sub-section (1A), with effect from the 1st day of April, 1986,---
(i) for the word, brackets and figures "clauses (xv)", the word, brackets and figures "clauses (iv), (xv)" shall be substituted;
(ii) for the words "two hundred and sixty-five thousand rupees", at both the places where they occur, the words "five hundred thousand rupees" shall be substituted;
(iii) the second proviso [inserted by item (3) of sub-clause (ii) of clause (a) of section 34 of the Finance Act, 1984](21of1984) shall be omitted;
(iv) in the third proviso [inserted by item (3) of sub-clause (ii) of clause (a) of section 34 of the Finance Act, 1984] (21 of 1984), for the . words "Provided also", the words "Provided further" shall be substituted;
(c) in sub-section (3) [as amended by sub-clause (iii) of clause (a) of section 34 of the Finance Act, 1984] (21 of 1984), the brackets, figures and letter "(xxva)," shall be omitted.
[Finance Act, 1985]
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Section 37, The Finance Act, 1985 (Act 32 of 1985).
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Questions about Section 37
What does Section 37 of the Finance Act deal with?
Section 37 of the Finance Act is headed "Amendment of section 5". Wealth-tax Amendment of section 5. 37.In section 5 of the Wealth-tax Act, 1957 (57 of 1957) (here in after referred to as the Wealth-tax Act),— (a) in sub-section (1) , with effect from the 1st day of April, 1986,— (i) the following proviso shall be added to clause (i), namely:— "Provided that nothi
How do I find court cases under Section 37 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 1985 37, section 37 Finance Act 1985, section 37 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 37 of the Finance Act, and has it changed?
Its own text turns on Finance Act 34 (Amendment of Act 27 of 1957), Wealth-tax Act 5 (Exemptions in respect of certain assets), 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 1985 as Act 32 of 1985. 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 Schedule6768 words
- 2. Income tax2478 words
- 7. Insertion of new section 33AB537 words
- 19. Substitution of new section for section 80HHC505 words
- 10. Amendment of section 36379 words
- 36. Consequential amendments370 words
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