Amendment of section 2
Section 90 of the Finance Act, 1987 deals with amendment of section 2. Gift-tax Amendment of section 2 90. In section 2 of the Gift-tax Act, 1958 (18 of 1958) (hereinafter referred to as the Gift-tax Act), in clause (xii), the following Explanation shall be inserted at the end, with effect from the 1st day of April, 1988, namely: — "Explanation- A transfer of any build
Gift-tax
Amendment of section 2
90. In section 2 of the Gift-tax Act, 1958 (18 of 1958) (hereinafter referred to as the Gift-tax Act), in clause (xii), the following Explanation shall be inserted at the end, with effect from the 1st day of April, 1988, namely: —
"Explanation- A transfer of any building or part thereof referred to in clause (iii), clause (iiia)or clause (iiib)of section 27 of the Income-tax Act by the person who is deemed under the said clause to be the owner thereof made Voluntarily and with out consideration in money or money's worth, shall be deemed to be a gift made by such person;".
[Finance Act, 1987]
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Section 90, 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.
Questions about Section 90
What does Section 90 of the Finance Act deal with?
Section 90 of the Finance Act is headed "Amendment of section 2". Gift-tax Amendment of section 2 90. In section 2 of the Gift-tax Act, 1958 (18 of 1958) (hereinafter referred to as the Gift-tax Act), in clause (xii), the following Explanation shall be inserted at the end, with effect from the 1st day of April, 1988, namely: — "Explanation- A transfer of any build
How do I find court cases under Section 90 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 90, section 90 Finance Act 1987, section 90 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 90 of the Finance Act, and has it changed?
Its own text turns on section 2 (Income-tax), Gift-tax Act 2 (Definitions), Income-tax Act 27 ("Owner of house property", "annual charge", etc., defined), 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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