An Act to give effect to the financial proposals of the Central Government for the financial year 1987-1988.

Act 11 of 1987 Department Department of Revenue

Administered by. Ministry of Finance, Department of Revenue · Other Acts of 1987

What this Act covers

The Finance Act for 1987. Its First Schedule carries the rates of income-tax for the year; the rest amends the Income-tax Act and the other fiscal statutes. The rate of tax for a year is fixed here and not in the Income-tax Act.

Sections

Type to filter. 106 sections.

1. 1Short title and commencement
2. 2Income-tax
3. 3Amendment of section 2
4. 4Amendment of section 10
5. 5Amendment of section 10A
6. 6Amendment of section 27
7. 7Amendment of section 32AB
8. 8Amendment of section 33AB
9. 9Amendment of section 36
10. 10Amendment of section 43B
11. 11Insertion of new section 44BB
12. 12Insertion of new section 44 BBA
13. 13Amendment of section 45
14. 14Amendment of section 47
15. 15Substitution of new section for section 48
16. 16Amendment of section 49
17. 17Omission of section 52
18. 18Amendment of section 53
19. 19Amendment of section 54
20. 20Amendment of section 54B
21. 21Amendment of section 54D
22. 22Amendment of section 54E
23. 23Amendment of section 54F
24. 24Insertion of new section 54G
25. 25Amendment of section 55
26. 26Amendment of section 56
27. 27Amendment of section 57
28. 28Amendment of section 70
29. 29Substitution of new section for section 71
30. 30Amendment of section 72
31. 31Substitution of new section for section 74
32. 32Amendment of section 80C
33. 33Amendment of section 80CC
34. 34Insertion of new section 80CCA
35. 35Amendment of section 80G
36. 36Amendment of section 80-O
37. 37Amendment of section 80RRA
38. 38Omission of section 80T
39. 39Amendment of section 80U
40. 40Omission of Chapter VIB
41. 41Omission of Chapter XI
42. 42Omission of section 115
43. 43Insertion of new Chapter XII B
44. 44Amendment of section 155
45. 45Amendment of section 192
46. 46Amendment of section 194
47. 47Amendment of section 194A
48. 48Amendment of section 194D
49. 49Amendment of section 195
50. 50Insertion of new section 195A
51. 51Amendment of section 197
52. 52Amendment of section 199
53. 53Amendment of section 202
54. 54Amendment of section 203
55. 55Insertion. of new section 203A
56. 56Substitution of new section for section 206
57. 57Substitution of new section for section 245A
58. 58Amendment of section 245B
59. 59Insertion of new sections 245BA to 245BD
60. 60Amendment of section 245C
61. 61Amendment of section 245D
62. 62Amendment of section 245E
63. 63Amendment of section 245F
64. 64Amendment of section 245H
65. 65Insertion of new section 245HA
66. 66Amendment of section 245K
67. 67Omission of section 245M
68. 68Insertion of new section 272BB
69. 69Amendment of section 273B
70. 70Omission of sections 208ZA
71. 71Omission of sections 285 and 286
72. 72Amendment of section 293
73. 73Amendment of Eleventh Schedule
74. 74Consequential amendments
75. 75Amendment of section 2
76. 76Amendment of section 5
77. 77Substitution of new section for section 22A
78. 78Amendment of section 22B
79. 79Insertion of new sections 22BA to 22BD
80. 80Amendment of section 22C
81. 81Amendment of section 22D
82. 82Amendment of section 22E
83. 83Amendment of section 22F
84. 84Amendment of' section 22H
85. 85Insertion of new section 22HA
86. 86Amendment of section 22K
87. 87Omission of section 22M
88. 88Amendment of section 31
89. 89Amendment of section 43
90. 90Amendment of section 2
91. 91Amendment of section 42
92. 92Amendment of Act 51 of 1975
93. 93Auxiliary duties of customs
94. 94Amendment of Act 1 of 1944
95. 95Amendment of Act 5 of 1986
96. 96Special duties of excise
97. 97Amendment of Act 58 of 1957
98. 98Extent and commencement
99. 99Definitions
100. 100Foreign exchange conservation (travel) tax
101. 101Power to exempt
102. 102Penalties
103. 103Protection of action taken in good faith
104. 104Power to make rules
105. 105Rules and notifications to be laid before Parliament
106. First ScheduleFirst Schedule

Related Acts

• The National Housing Bank Act, 1987101 sections
• The Expenditure-tax Act, 198733 sections
• The Finance Act, 198879 sections
• The Prohibition of Benami Property Transactions Act, 198875 sections
• The Finance Act, 198648 sections
• The Prevention of Illicit Traffic in Narcotic Drugs and Psychotropic Substances Act, 198816 sections
• The Narcotic Drugs and Psychotropic Substances Act, 1985129 sections
• The Small Industries Development Bank of India Act, 198969 sections

Provenance. 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.

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. Every one of the 106 sections of this Act has its own page. This page is not a substitute for legal advice.