Amendment of section 30
Section 70 of the Finance Act, 1988 deals with amendment of section 30. Amendment of section 30 70. In section 36 of the Gift-tax Act, after sub-section (1), the following sub-section shall be inserted with effect from the 1st day of June, 1988, namely:— "(1A) If the Director General or Director or Deputy Director or Assistant Director has reason to suspect that any gif
Amendment of section 30
70. In section 36 of the Gift-tax Act, after sub-section (1), the following sub-section shall be inserted with effect from the 1st day of June, 1988, namely:—
"(1A) If the Director General or Director or Deputy Director or Assistant Director has reason to suspect that any gifts chargeable to tax under this Act have been concealed, or are likely to be concealed, by any person or class of persons within his jurisdiction, then, for the purposes of making any inquiry or investigation relating thereto, it shall be competent for him to exercise the powers conferred under sub-section (1) on the gift-tax authorities referred to in that subsection, notwithstanding that no proceedings with respect to such person or class of persons are pending before him or any other gift-tax authority.".
[Finance Act, 1988]
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Section 70, The Finance Act, 1988 (Act 26 of 1988).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 70
What does Section 70 of the Finance Act deal with?
Section 70 of the Finance Act is headed "Amendment of section 30". Amendment of section 30 70. In section 36 of the Gift-tax Act, after sub-section (1), the following sub-section shall be inserted with effect from the 1st day of June, 1988, namely:— "(1A) If the Director General or Director or Deputy Director or Assistant Director has reason to suspect that any gif
How do I find court cases under Section 70 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 1988 70, section 70 Finance Act 1988, section 70 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 70 of the Finance Act, and has it changed?
Its own text turns on section 30 (Omission of section 112A), Gift-tax Act 36 (Power regarding discovery, production of evidence, etc), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 1988 as Act 26 of 1988. 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 Schedule7045 words
- 2. Income-tax2162 words
- 4. Amendment of section 101079 words
- 6. Insertion of new section 10B1066 words
- 24. Amendment of section 80HHC788 words
- 40. Insertion of new section 206C687 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.