Amendment of section 36
Section 14 of the Finance Act, 1991 deals with amendment of section 36. Amendment of section 36. 14. In section 36 of the Income-tax Act, in sub-section (1),— (i) in clause (viia), with effect from the 1st day of April, 1992,— (a) after sub-clause (b), the following sub-clause shall be inserted, namely: — " (c) a public financial institution or a State financial corpora
Amendment of section 36.
14. In section 36 of the Income-tax Act, in sub-section (1),—
(i) in clause (viia), with effect from the 1st day of April, 1992,—
(a) after sub-clause (b), the following sub-clause shall be inserted, namely: —
" (c) a public financial institution or a State financial corporation or a State industrial investment corporation, an amount not exceeding five per cent- of the total income (computed before making any deduction under this clause and Chapter VI-A).";
(b) in the Explanation, after clause (ii), the following clauses shall be inserted, namely: —
'(iii) "public financial institution" shall have the meaning assigned to it in section 4A of the Companies Act, 1956 (1 of 1956);
(iv) "State financial corporation" means a financial corporation established under section 3 or section 3A or an institution notified under section 46 of the State Financial Corporations Act, 1951 (63 of 1951);
(v) "State industrial investment corporation" means a Government company within the meaning of section 617 of the Companies Act, 1956 (1 of 1956), engaged in the business of providing long-term finance for industrial projects and approved by the Central Government under clause (viii) of this sub-section;';
(ii) in clause (viii), for the Explanation, the following Explanation shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 1987, namely: —
'Explanation.—In this clause,-—
(a) "financial corporation" shall include a public company;
(b) "public company" shall have the meaning assigned to it in section 3 of the Companies Act, 1956 (1 of 1956).'.
[Finance (No.
2) Act, 1991]
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Section 14, The Finance Act, 1991 (Act 49 of 1991).
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Questions about Section 14
What does Section 14 of the Finance Act deal with?
Section 14 of the Finance Act is headed "Amendment of section 36". Amendment of section 36. 14. In section 36 of the Income-tax Act, in sub-section (1),— (i) in clause (viia), with effect from the 1st day of April, 1992,— (a) after sub-clause (b), the following sub-clause shall be inserted, namely: — " (c) a public financial institution or a State financial corpora
How do I find court cases under Section 14 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 1991 14, section 14 Finance Act 1991, section 14 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 14 of the Finance Act, and has it changed?
Its own text turns on section 3 (Amendment of section 2), section 36 (Amendment of section 80QQA), Income-tax Act 36 (Other deductions), State Financial Corporations Act 46 (Power to apply Act to certain financial institutions in existence at commencement of Act), 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 1991 as Act 49 of 1991. 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 Schedule7022 words
- 2. Income-tax2374 words
- 32. Insertion of new section 80-IA2233 words
- 101. Substitution of new sections for sections 11 to 131889 words
- 5. Amendment of section 101415 words
- 28. Amendment of section 80HHC1101 words
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