Insertion of new section 195A
Section 50 of the Finance Act, 1987 deals with insertion of new section 195A. Insertion of new section 195A 50. After section 195 of the Income-tax Act, the following section shall be inserted with effect from the 1st day of June, 1987, namely:— Income payable "net of tax" "195A.
Insertion of new section 195A
50. After section 195 of the Income-tax Act, the following section shall be inserted with effect from the 1st day of June, 1987, namely:—
Income payable "net of tax"
"195A. Where, under an agreement or other arrangement, the tax chargeable on any income referred to in the foregoing provisions of this Chapter is to be borne by the person by whom the income is payable, then, for the purposes of deduction of tax under those provisions such income shall be increased to such amount as would, after deduction of tax thereon at the rates in force for the financial year in which such income is payable, be equal to the net amount payable under such agreement or arrangement.".
[Finance Act, 1987]
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Section 50, The Finance Act, 1987 (Act 11 of 1987).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Questions about Section 50
What does Section 50 of the Finance Act deal with?
Section 50 of the Finance Act is headed "Insertion of new section 195A". Insertion of new section 195A 50. After section 195 of the Income-tax Act, the following section shall be inserted with effect from the 1st day of June, 1987, namely:— Income payable "net of tax" "195A.
How do I find court cases under Section 50 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 1987 50, section 50 Finance Act 1987, section 50 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 50 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 195 (Other sums), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 1987 as Act 11 of 1987. 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 Schedule6061 words
- 2. Income-tax1675 words
- 32. Amendment of section 80C1059 words
- 24. Insertion of new section 54G901 words
- 59. Insertion of new sections 245BA to 245BD752 words
- 79. Insertion of new sections 22BA to 22BD748 words
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