Amendment of section 158BB
Section 46 of the Finance Act, 1996 deals with amendment of section 158BB. Amendment of section 158BB. 46. In section 158BB of the Income-tax Act, in sub-section (7), in the Explanation, for clause (b), the following clause shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 1995, namely:— "(b) of a firm, returned income
Amendment of section 158BB.
46. In section 158BB of the Income-tax Act, in sub-section (7), in the Explanation, for clause (b), the following clause shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 1995, namely:—
"(b) of a firm, returned income and total income assessed for each of the previous years falling within the block period shall be the income determined before allowing deduction of salary, interest, commission, bonus or remuneration by whatever name called:
Provided that undisclosed income of the firm so determined shall not be chargeable to tax in the hands of the partners, whether on allocation or on account of enhancement.".
[Finance (No.
2) Act, 1996]
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Section 46, The Finance Act, 1996 (Act 33 of 1996).
Questions about Section 46
What does Section 46 of the Finance Act deal with?
Section 46 of the Finance Act is headed "Amendment of section 158BB". Amendment of section 158BB. 46. In section 158BB of the Income-tax Act, in sub-section (7), in the Explanation, for clause (b), the following clause shall be substituted and shall be deemed to have been substituted with effect from the 1st day of July, 1995, namely:— "(b) of a firm, returned income
How do I find court cases under Section 46 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 46, section 46 Finance Act 1996, section 46 of the Finance Act. Each opens the full list of orders on eCourtsIndia, where it can be narrowed by court, year and outcome.
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
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