Insertion of new section 35DD
Section 20 of the Finance Act, 1999 deals with insertion of new section 35DD. Insertion of new section 35DD. 20. After section 35D of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2000, namely :— "35DD.
Insertion of new section 35DD.
20. After section 35D of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2000, namely :—
"35DD. Amortisation of expenditure in case of amalgamation or demerger.—(1) Where an assessee, being an Indian company, incurs any expenditure, on or after the 1st day of April, 1999, wholly and exclusively for the purposes of amalgamation or demerger of an undertaking, the assessee shall be allowed a deduction of an amount equal to one-fifth of such expenditure for each of the five successive previous years beginning with the previous year in which the amalgamation or demerger takes place.
(2) No deduction shall be allowed in respect of the expenditure mentioned in sub-section (1) under any other provision of this Act.".
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Section 20, The Finance Act, 1999.
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Questions about Section 20
What does Section 20 of the Finance Act deal with?
Section 20 of the Finance Act is headed "Insertion of new section 35DD". Insertion of new section 35DD. 20. After section 35D of the Income-tax Act, the following section shall be inserted with effect from the 1st day of April, 2000, namely :— "35DD.
How do I find court cases under Section 20 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 1999 20, section 20 Finance Act 1999, section 20 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 20 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 35D (Amortisation of certain preliminary expenses), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 1999. 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
- 50. Substitution of new section for section 80-IA5311 words
- First Schedule. First Schedule5092 words
- 2. Income-tax1942 words
- 6. Amendment of section 101681 words
- 3. Amendment of section 21112 words
- 38. Substitution of new section for section 72A903 words
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