Amendment of section 80RR
Section 32 of the Finance Act, 1996 deals with amendment of section 80RR. Amendment of section 80RR. 32. In section 80RR of the Income-tax Act, for the portion beginning with the words "equal to" and ending with the words "whichever is higher", the following shall be substituted with effect from the 1st day of April, 1997, namely:— "equal to seventy-five per cent.
Amendment of section 80RR.
32. In section 80RR of the Income-tax Act, for the portion beginning with the words "equal to" and ending with the words "whichever is higher", the following shall be substituted with effect from the 1st day of April, 1997, namely:—
"equal to seventy-five per cent. ol such income, as is brought into India by, or on behalf of, the asscssee in convertible foreign exchange within a period of six months from the end of the previous year or where the Chief Commissioner or Commissioner is satisfied (for reasons to be recorded in writing) that the asscssee is, for reasons beyond his control unable to do so within the said period of six months, within such further period as the Chief Commissioner or Commissioner may allow in this behalf:
Provided that no deduction under this section shall be allowed. unless the assessee furnishes a certificate, in. the prescribed form, along with the return of income, certifying that the deduction has been correctly claimed in accordance with the provisions of this section.".
[Finance (No.
2) Act, 1996]
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Section 32, The Finance Act, 1996 (Act 33 of 1996).
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 32
What does Section 32 of the Finance Act deal with?
Section 32 of the Finance Act is headed "Amendment of section 80RR". Amendment of section 80RR. 32. In section 80RR of the Income-tax Act, for the portion beginning with the words "equal to" and ending with the words "whichever is higher", the following shall be substituted with effect from the 1st day of April, 1997, namely:— "equal to seventy-five per cent.
How do I find court cases under Section 32 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 1996 32, section 32 Finance Act 1996, section 32 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 32 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 80RR (Deduction in respect of professional income from foreign sources in certain cases), so none of them can safely be read on its own. 3 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 1996 as Act 33 of 1996. 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 Schedule4964 words
- 2. Income-tax1749 words
- 20. Insertion of new sections 54EA and 54EB1112 words
- 39. Insertion of new section 115JA964 words
- 4. Amendment of section 10695 words
- 34. Amendment of section 88644 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.