Amendment of section 293A
Section 49 of the Finance Act, 1995 deals with amendment of section 293A. Amendment of section 293A. 49. In section 293A of the Income tax Act,— (a) in sub-section (1), after the words "or in regard to the whole or any part of the income of such class of persons", the following words shall be inserted and shall be deemed always to have been inserted with effect from the 1
Amendment of section 293A.
49. In section 293A of the Income tax Act,—
(a) in sub-section (1), after the words "or in regard to the whole or any part of the income of such class of persons", the following words shall be inserted and shall be deemed always to have been inserted with effect from the 1st day of April, 1993, namely:—
"or in regard to the status in which such class of persons or the members thereof are to be assessed on their income from the business referred to in clause (a) of sub-section (2):
Provided that the notification for modification in respect of the status may be given effect from an assessment year beginning on or after the 1st of April, 1993.";
(b) for Explanation occurring at the end, the following Explanation shall be substituted and shall be deemed always to have been substituted with effect from the 1st day of April, 1993, namely:—
'Explanation.—For the purposes of this section,—
(a) "mineral oil" includes petroleum and natural gas;
(b) "status" means the category under which the assessee is assessed as "individual", "Hindu undivided family" and so on.'.
[Finance Act, 1995]
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Section 49, The Finance Act, 1995 (Act 22 of 1995).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 49
What does Section 49 of the Finance Act deal with?
Section 49 of the Finance Act is headed "Amendment of section 293A". Amendment of section 293A. 49. In section 293A of the Income tax Act,— (a) in sub-section (1), after the words "or in regard to the whole or any part of the income of such class of persons", the following words shall be inserted and shall be deemed always to have been inserted with effect from the 1
How do I find court cases under Section 49 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 1995 49, section 49 Finance Act 1995, section 49 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 49 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 293A (Power to make exemption, etc., in relation to participation in the business of prospecting for, extraction, etc., of mineral oils), 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 1995 as Act 22 of 1995. 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 Schedule5064 words
- 2. Income-tax1851 words
- 32. Insertion of new Chapter XIV-B1627 words
- 4. Amendment of section 101177 words
- 36. Insertion of new sections 194J and 194K967 words
- 30. Substitution of new section for section 139A690 words
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