Amendment of section 193
Section 50 of the Finance Act, 1991 deals with amendment of section 193. Amendment of section 193. 50. In section 193 of the Income-tax Act, with effect from the 1st day of October, 1991,— (a) for the words "Provided that1', the following shall be substituted, namely:— "Provided that where, in the case of a scheduled bank, the Central Government is satisfied that the tot
Amendment of section 193.
50. In section 193 of the Income-tax Act, with effect from the 1st day of October, 1991,—
(a) for the words "Provided that1', the following shall be substituted, namely:—
"Provided that where, in the case of a scheduled bank, the Central Government is satisfied that the total income of the bank justifies deduction of income-tax at a lower rate, it may, by notification in the Official Gazette, specify the rate at which deduction of income-tax shall be made in the case of such bank under this section and such notification shall, at any one time, have effect for such assessment year or years, not exceeding three assessment years, as may be specified in the notification:
Provided further that";
(b) the existing Explanation shall be renumbered as Explanation 1 and after Explanation 1 as so renumbered, the following Explanation shall be inserted, namely:—
'Explanation 2.—For the purposes of this section, the expression "scheduled bank" shall have the meaning assigned to it in clause (ii) of the Explanation to clause (viia) of sub-section (1) of section 36.'.
[Finance (No.
2) Act, 1991]
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Section 50, The Finance Act, 1991 (Act 49 of 1991).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Questions about Section 50
What does Section 50 of the Finance Act deal with?
Section 50 of the Finance Act is headed "Amendment of section 193". Amendment of section 193. 50. In section 193 of the Income-tax Act, with effect from the 1st day of October, 1991,— (a) for the words "Provided that1', the following shall be substituted, namely:— "Provided that where, in the case of a scheduled bank, the Central Government is satisfied that the tot
How do I find court cases under Section 50 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 50, section 50 Finance Act 1991, section 50 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 50 of the Finance Act, and has it changed?
Its own text turns on section 36 (Amendment of section 80QQA), Income-tax Act 193 (Interest on securities), so none of them can safely be read on its own.
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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