Amendment of section 2
Section 75 of the Finance Act, 1987 deals with amendment of section 2. Wealth-tax Amendment of section 2 75. In section 2 of the Wealth-tax Act, 1957 (27 of 1957) (hereinafter referred to as the Wealth-tax Act), in clause (m), the following Explanation shall be inserted at the end, with effect from the 1st day of April, 1988, namely:— "Explanation—A building or part th
Wealth-tax
Amendment of section 2
75. In section 2 of the Wealth-tax Act, 1957 (27 of 1957) (hereinafter referred to as the Wealth-tax Act), in clause (m), the following Explanation shall be inserted at the end, with effect from the 1st day of April, 1988, namely:—
"Explanation—A building or part thereof referred to in clause (iii), clause (iiia)or clause (iiib) of section 27 of the Income-tax Act shall be includible in the net wealth of the person who is deemed under the said clause to be the owner of that building or part thereof;".
[Finance Act, 1987]
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Section 75, The Finance Act, 1987 (Act 11 of 1987).
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Referred to by 1
Questions about Section 75
What does Section 75 of the Finance Act deal with?
Section 75 of the Finance Act is headed "Amendment of section 2". Wealth-tax Amendment of section 2 75. In section 2 of the Wealth-tax Act, 1957 (27 of 1957) (hereinafter referred to as the Wealth-tax Act), in clause (m), the following Explanation shall be inserted at the end, with effect from the 1st day of April, 1988, namely:— "Explanation—A building or part th
How do I find court cases under Section 75 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 75, section 75 Finance Act 1987, section 75 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 75 of the Finance Act, and has it changed?
Its own text turns on section 2 (Income-tax), Income-tax Act 27 ("Owner of house property", "annual charge", etc., defined), Wealth-tax Act 2 (Definitions), 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 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
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. 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. This page is not a substitute for legal advice.