# The Finance Act, 1998, Section 14: Amendment of section 35D

- Act: The Finance Act, 1998
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-1998/section/14/

## Text

Amendment of section 35D. 14. In section 35D of the Income-tax Act, with effect from the 1st day of April, 1999,— (a ) in sub-section (1), the following proviso shall be inserted, namely :— ‘ Provided that where an assessee incurs after the 31st day of March, 1998, any expenditure specified in sub-section (2), the provisions of this sub-section shall have effect as if for the words "an amount equal to one-tenth of such expenditure for each of the ten successive previous years", the words "an amount equal to one-fifth of such expenditure for each of the five successive previous years" had been substituted.’; (b ) in sub-section (3), before the Explanation, the follow­ing proviso shall be inserted, namely :— ‘ Provided that where the aggregate amount of expenditure referred to in sub-section (2) is incurred after the 31st day of March, 1998, the provisions of this sub-section shall have effect as if for the words "two and one-half per cent", the words "five per cent" had been substituted.’. © Copyright. Taxmann Publications Pvt. Ltd.

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