Amendment of section 2
Section 3 of the Finance Act, 1992 deals with amendment of section 2. CHAPTER III Direct taxes Income-tax Amendment of section 2.
CHAPTER III
Direct taxes
Income-tax
Amendment of section 2.
3. In section 2 of the Income-tax Act,—
(a) in clause (18), after sub-clause (ac), the following sub-clause shall be inserted with effect from the 1st day of April, 1993, namely:—
"(ad) if it is a company, wherein shares (not being shares entitled to a fixed rate of dividend whether with or without a further right to participate in profits) carrying not less than fifty per cent, of the voting power have been allotted unconditionally to, or acquired unconditionally by, and were throughout the relevant previous year beneficially held by, one or more cooperative societies;";
(b) in clause (24), after sub-clause (vd), the following sub-clause shall be inserted with effect from the 1st day of April, 1993, namely: —
"(ve) any sum chargeable to income-tax under clause (v) of section 28;";
(c) in clause) (37A), for sub-clause (iii), the following sub-clause shall be substituted with effect from the 1st day of June, 1992, namely: —
" (iii) for the purposes of deduction of tax under section 195, the rate or rates of income-tax specified in this behalf in the Finance Act of the relevant year or the rate or rates of income-tax specified in an agreement entered into by the Central Government under section 90, whichever is applicable by virtue of the provisions of section 90;";
(d) clause (39) shall be omitted with effect from the 1st day of April, 1993;
(e) clause (48) shall be omitted with effect from the 1st day of April, 1993.
[Finance Act, 1992]
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Section 3, The Finance Act, 1992 (Act 18 of 1992).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 3
What does Section 3 of the Finance Act deal with?
Section 3 of the Finance Act is headed "Amendment of section 2". CHAPTER III Direct taxes Income-tax Amendment of section 2.
How do I find court cases under Section 3 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 1992 3, section 3 Finance Act 1992, section 3 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 3 of the Finance Act, and has it changed?
Its own text turns on section 2 (Income-tax), section 28 (Amendment of section 54B), section 90 (Amendment of section 3), Income-tax Act 2 (Definitions), so none of them can safely be read on its own. 5 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 1992 as Act 18 of 1992. 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 Schedule6776 words
- 2. Income-tax2308 words
- 4. Amendment of section 101580 words
- 58. Insertion of new Chapter XII-C876 words
- 16. Amendment of section 40813 words
- 35. Amendment of section 64707 words
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