Insertion of new section 44BBB
Section 10 of the Finance Act, 1989 deals with insertion of new section 44BBB. Insertion of new section 44BBB 10. After section 44BBA of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 1990, namely: — Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in
Insertion of new section 44BBB
10. After section 44BBA of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 1990, namely: —
Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects.
'44BBB. Notwithstanding anything to the contrary contained in sections 28 to 44AA, in the case of an assessee, being a foreign company, engaged in the business of civil construction or the business of erection of plant or machinery or testing or commissioning thereof, in connection with a turnkey power project approved by the Central Government in this behalf and financed under any international aid programme, a sum equal to ten per cent, of the amount paid or payable (whether in or out of India) to the said assessee or to any person on his behalf on account of such civil construction, erection, testing or commissioning shall be deemed to be the profits and gains of such business chargeable to tax under the head "Profits and gains of business or profession".'.
[Finance Act, 1989]
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Section 10, The Finance Act, 1989 (Act 13 of 1989).
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Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Questions about Section 10
What does Section 10 of the Finance Act deal with?
Section 10 of the Finance Act is headed "Insertion of new section 44BBB". Insertion of new section 44BBB 10. After section 44BBA of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 1990, namely: — Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in
How do I find court cases under Section 10 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 1989 10, section 10 Finance Act 1989, section 10 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 10 of the Finance Act, and has it changed?
Its own text turns on section 28 (Amendment of Section 17A), Income-tax Act 44BBA (Special provision for computing profits and gains of the business of operation of aircraft in the case of non-residents), so none of them can safely be read on its own. 3 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 1989 as Act 13 of 1989. 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 Schedule6983 words
- 2. Income-tax2165 words
- 4. Amendment of section 2568 words
- 7. Amendment of section 32AB544 words
- 11. Amendment of section 48350 words
- 19. Amendment of section 115J252 words
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