Amendment of section 71

Q: When was Section 21 of the Finance Act enacted?

Section 21 of the Finance Act, cited as Finance Act 1994 21, was enacted on 13 May 1994 as Act 32 of 1994. It is in force as at the date shown on this page.

In force Act 32 of 1994 As on 17 Oct 2026

Act 32 of 1994 Ministry Finance Enacted 13 May 1994

Section 21 of the Finance Act, 1994 deals with amendment of section 71. Amendment of section 71 21. In section 71 of the Income-tax Act, for sub-section (4), the following sub-section shall be substituted with effect from the 1st day of April, 1995, namely:— '(4) Where the net result of the computation under the head "Income from house property" is a loss, in respect of The Act was enacted on 13 May 1994.

Amendment of section 71
21. In section 71 of the Income-tax Act, for sub-section (4), the following sub-section shall be substituted with effect from the 1st day of April, 1995, namely:—
'(4) Where the net result of the computation under the head "Income from house property" is a loss, in respect of the assessment years commencing on the 1st day of April, 1995 and the 1st day of April, 1996, such loss shall be first set off under sub-sections (1) and (2) and thereafter the toss referred to in section 71A shall be set off in the relevant assessment year in accordance with the provisions of that section.'.
[Finance Act, 1994]
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Section 21, 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.

This section refers to

Income-tax Act s. 71 Set off of loss from one head against income from another

Questions about Section 21

What does Section 21 of the Finance Act deal with?

Section 21 of the Finance Act is headed "Amendment of section 71". Amendment of section 71 21. In section 71 of the Income-tax Act, for sub-section (4), the following sub-section shall be substituted with effect from the 1st day of April, 1995, namely:— '(4) Where the net result of the computation under the head "Income from house property" is a loss, in respect of

How do I find court cases under Section 21 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 21, section 21 Finance Act 1994, section 21 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 21 of the Finance Act, and has it changed?

Its own text turns on Income-tax Act 71 (Set off of loss from one head against income from another), so none of them can safely be read on its own.

When was Section 21 of the Finance Act enacted?

Section 21 of the Finance Act, cited as Finance Act 1994 21, 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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