Amendment of section 16
Section 4 of the Finance Act, 1997 deals with amendment of section 16. Amendment of section 16. 4. In section 16 of the Income-tax Act, for clauses (i) and (ia), the following clause shall be substituted with effect from the 1st day of April, 1998, namely :— "(i) a deduction of a sum equal to thirty-three and one-third per cent of the salary or twenty thousand rupees,
Amendment of section 16.
4. In section 16 of the Income-tax Act, for clauses (i) and (ia), the following clause shall be substituted with effect from the 1st day of April, 1998, namely :—
"(i) a deduction of a sum equal to thirty-three and one-third per cent of the salary or twenty thousand rupees, whichever is less.
Explanation.—For the removal of doubts, it is hereby declared that where, in the case of an assessee, salary is due from, or paid or allowed by, more than one employer, the deduction under this clause shall be computed with reference to the aggregate salary due, paid or allowed to the assessee and shall in no case exceed the amount specified under this clause;".
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Section 4, The Finance Act, 1997.
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Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Referred to by 2
Questions about Section 4
What does Section 4 of the Finance Act deal with?
Section 4 of the Finance Act is headed "Amendment of section 16". Amendment of section 16. 4. In section 16 of the Income-tax Act, for clauses (i) and (ia), the following clause shall be substituted with effect from the 1st day of April, 1998, namely :— "(i) a deduction of a sum equal to thirty-three and one-third per cent of the salary or twenty thousand rupees,
How do I find court cases under Section 4 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 4, section 4 Finance Act 1997, section 4 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 4 of the Finance Act, and has it changed?
Its own text turns on section 16 (Amendment of section 47), Income-tax Act 16 (Deductions from salaries), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.
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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