Insertion of new section 50A
Section 23 of the Finance Act, 1998 deals with insertion of new section 50A. Insertion of new section 50A. 23. After section 50 of the Income-tax Act, the following section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1998, namely :— "50A.
Insertion of new section 50A.
23. After section 50 of the Income-tax Act, the following section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1998, namely :—
"50A. Special provision for cost of acquisition in case of depreciable asset.—Where the capital asset is an asset in respect of which a deduction on account of depreciation under clause (i) of sub-section (1) of section 32 has been obtained by the assessee in any previous year, the provisions of sections 48 and 49 shall apply subject to the modification that the written down value, as defined in clause (6) of section 43, of the asset, as adjusted, shall be taken as the cost of acquisition of the asset.".
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Section 23, The Finance Act, 1998.
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Questions about Section 23
What does Section 23 of the Finance Act deal with?
Section 23 of the Finance Act is headed "Insertion of new section 50A". Insertion of new section 50A. 23. After section 50 of the Income-tax Act, the following section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1998, namely :— "50A.
How do I find court cases under Section 23 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 1998 23, section 23 Finance Act 1998, section 23 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 23 of the Finance Act, and has it changed?
Its own text turns on section 32 (Amendment of section 80HHD), section 43 (Insertion of new section 145A), section 48 (Amendment of Chapter XIX-B), section 49 (Insertion of new section 246A), and on 1 further provision, so none of them can safely be read on its own. 4 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 1998. 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
- -. THE SCHEDULE4926 words
- 10. Insertion of new section 33ABA1532 words
- 2. Income-tax1337 words
- 5. Amendment of section 101148 words
- 69. Insertion of new section 23A925 words
- 87. Definitions858 words
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