Amendment of section 41
Section 9 of the Finance Act, 1997 deals with amendment of section 41. Amendment of section 41. 9. In section 41 of the Income-tax Act, with effect from the 1st day of April, 1998,— (a) after sub-section (4), the following sub-section shall be inserted, namely :— "(4A) Where a deduction has been allowed in respect of any special reserve created and maintained under cl
Amendment of section 41.
9. In section 41 of the Income-tax Act, with effect from the 1st day of April, 1998,—
(a) after sub-section (4), the following sub-section shall be inserted, namely :—
"(4A) Where a deduction has been allowed in respect of any special reserve created and maintained under clause (viii) of sub-section (1) of section 36, any amount subsequently withdrawn from such special reserve shall be deemed to be the profits and gains of business or profession and accordingly be chargeable to income-tax as the income of the previous year in which such amount is withdrawn.
Explanation.—Where any amount is withdrawn from the special reserve in a previous year in which the business is no longer in existence, the provisions of this sub-section shall apply as if the business is in existence in that previous year.";
(b) in sub-section (5), for the words, brackets and figure "or sub-section (4)", the words, brackets, figures and letter ", sub-section (4) or sub-section (4A)" shall be substituted.
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Section 9, The Finance Act, 1997.
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Questions about Section 9
What does Section 9 of the Finance Act deal with?
Section 9 of the Finance Act is headed "Amendment of section 41". Amendment of section 41. 9. In section 41 of the Income-tax Act, with effect from the 1st day of April, 1998,— (a) after sub-section (4), the following sub-section shall be inserted, namely :— "(4A) Where a deduction has been allowed in respect of any special reserve created and maintained under cl
How do I find court cases under Section 9 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 9, section 9 Finance Act 1997, section 9 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 9 of the Finance Act, and has it changed?
Its own text turns on section 36 (Substitution of new section for section 115E), section 41 (Amendment of section 132), Income-tax Act 41 (Profits chargeable to tax), 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 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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