Amendment of section 33AB
Section 12 of the Finance Act, 1994 deals with amendment of section 33AB. Amendment of section 33AB. 12. In section 33AB of the Income-tax Act, with effect from the 1st day of April, 1995,— (1) in sub-section (1),— (i) for the portion beginning with (he words "whichever is earlier, deposited with the National Bank" and ending with the words "the assessee shall, subject to The Act was enacted on 13 May 1994.
Amendment of section 33AB.
12. In section 33AB of the Income-tax Act, with effect from the 1st day of April, 1995,—
(1) in sub-section (1),—
(i) for the portion beginning with (he words "whichever is earlier, deposited with the National Bank" and ending with the words "the assessee shall, subject to the provisions of this section,", the following shall be substituted, namely:—
"whichever is earlier,—
(a) deposited with the National Bank any amount or amounts in an account (hereafter in this section referred to as the special account) maintained by the assessee with that Bank in accordance with, and for the purposes specified in, a scheme (hereafter in this section referred to as the scheme) approved in this behalf by the Tea Board; or
(b) deposited any amount irr an account (hereafter in this section referred to as the Tea Deposit Account) opened by the assessee in accordance with, and for the purposes specified in, a scheme framed by the Tea Board (hereafter in this section referred to as the deposit scheme) with the previous approval of the Central Government,
the assessee shall, subject to the provisions of this section,";
(ii) in the second proviso, after the words "in the special account", the words "or in the Tea Deposit Account" shall be inserted;
(2) in sub-section (3), for the words "the special account shall not be allowed to be withdrawn except for the purposes specified in the scheme", the words "the special account or the Tea Deposit Account shall not be allowed to be withdrawn except for the purposes specified in the scheme or, as the case may be, in the deposit scheme" shall be substituted;
(3) in sub-section (5), after the words "the special account", the words "or in the Tea Deposit Account" shall be inserted;
(4) in sub-section (6),—
(i) after the words "the special account", the words "or in the Tea Deposit Account" shall be inserted;
(ii) after the words "the scheme", the words "or the deposit scheme" shall be inserted;
(5) in sub-section (7),—
(i) after the words "special account", the words "or in the Tea Deposit Account" shall be inserted;
(ii) after the words "National Bank", the words "or which is withdrawn by the assessee from the Tea Deposit Account" shall be inserted;
(iii) after the words "the scheme", the words "or the deposit scheme" shall be Inserted;
(6) in sub-section (8), after the words "the scheme", at both the places where they occur, the words "or the deposit scheme" shall be inserted.
[Finance Act, 1994]
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Section 12, The Finance Act, 1994 (Act 32 of 1994).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 12
What does Section 12 of the Finance Act deal with?
Section 12 of the Finance Act is headed "Amendment of section 33AB". Amendment of section 33AB. 12. In section 33AB of the Income-tax Act, with effect from the 1st day of April, 1995,— (1) in sub-section (1),— (i) for the portion beginning with (he words "whichever is earlier, deposited with the National Bank" and ending with the words "the assessee shall, subject to
How do I find court cases under Section 12 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 1994 12, section 12 Finance Act 1994, section 12 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 12 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 33AB (Tea development account ,coffee development account and rubber development account), so none of them can safely be read on its own.
When was Section 12 of the Finance Act enacted?
Section 12 of the Finance Act, cited as Finance Act 1994 12, was enacted on 13 May 1994 as Act 32 of 1994. It is in force as at the date shown on this page.
Other sections of this Act
- First Schedule. First Schedule5507 words
- 2. Income-tax2077 words
- 16. Insertion of new sections 44AD and 44AE987 words
- 32. Amendment of section 115A828 words
- 45. Amendment of section 234C587 words
- 6. Amendment of section 10557 words
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