Amendment of section 44AD
Section 29 of the Finance Act, 1999 deals with amendment of section 44AD. Amendment of section 44AD. 29. In section 44AD of the Income-tax Act, after sub-section (5), the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1998, namely :— "(6) Notwithstanding anything contained in the foregoing provision
Amendment of section 44AD.
29. In section 44AD of the Income-tax Act, after sub-section (5), the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1998, namely :—
"(6) Notwithstanding anything contained in the foregoing provisions of this section, an assessee may claim lower profits and gains than the profits and gains specified in sub-section (1), if he keeps and maintains such books of account and other documents as required under sub-section (2) of section 44AA and gets his accounts audited and furnishes a report of such audit as required under section 44AB.".
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Section 29, The Finance Act, 1999.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 29
What does Section 29 of the Finance Act deal with?
Section 29 of the Finance Act is headed "Amendment of section 44AD". Amendment of section 44AD. 29. In section 44AD of the Income-tax Act, after sub-section (5), the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1998, namely :— "(6) Notwithstanding anything contained in the foregoing provision
How do I find court cases under Section 29 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 29, section 29 Finance Act 1999, section 29 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 29 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 44AD (Special provision for computing profits and gains of business on presumptive basis), 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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