Amendment of section 44AD
Section 12 of the Finance Act, 1997 deals with amendment of section 44AD. Amendment of section 44AD. 12. In section 44AD of the Income-tax Act,— (i) in sub-section (2), the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1994, namely :— "Provided that where the assessee is a firm, the salary and interest
Amendment of section 44AD.
12. In section 44AD of the Income-tax Act,—
(i) in sub-section (2), the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1994, namely :—
"Provided that where the assessee is a firm, the salary and interest paid to its partners shall be deducted from the income computed under sub-section (1) subject to the conditions and limits specified in clause (b) of section 40;";
(ii) sub-section (5) shall be omitted.
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Section 12, The Finance Act, 1997.
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 44AD". Amendment of section 44AD. 12. In section 44AD of the Income-tax Act,— (i) in sub-section (2), the following proviso shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1994, namely :— "Provided that where the assessee is a firm, the salary and interest
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 1997 12, section 12 Finance Act 1997, 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 section 40 (Insertion of new Chapter XII-D), Income-tax Act 44AD (Special provision for computing profits and gains of business on presumptive basis), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 1997. 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 Schedule4803 words
- 2. Income-tax1461 words
- 25. Amendment of section 80-IA1316 words
- 6. Insertion of new section 35ABB644 words
- 40. Insertion of new Chapter XII-D552 words
- 3. Amendment of section 10486 words
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