Amendment of section 80-IB
Section 45 of the Finance Act, 2001 deals with amendment of section 80-IB. Amendment of section 80-IB. 45. In section 80-IB of the Income-tax Act, with effect from the 1st day of April, 2002,— (a) in sub-section (1), for the brackets, figures and word "(3) to (11)", the brackets, figures, words and letter "(3) to (11) and (11A)" shall be substituted;
Amendment of section 80-IB.
45. In section 80-IB of the Income-tax Act, with effect from the 1st day of April, 2002,—
(a) in sub-section (1), for the brackets, figures and word "(3) to (11)", the brackets, figures, words and letter "(3) to (11) and (11A)" shall be substituted;
(b) after sub-section (11), the following sub-section shall be inserted, namely:—
"(11A) The amount of deduction in a case of an undertaking deriving profit from the integrated business of handling, storage and transportation of foodgrains, shall be hundred per cent of the profits and gains derived from such undertaking for five assessment years beginning with the initial assessment year and thereafter, twenty-five per cent (or thirty per cent where the assessee is a company) of the profits and gains derived from the operation of such business in a manner that the total period of deduction does not exceed ten consecutive assessment years and subject to fulfilment of the condition that it begins to operate such business on or after the 1st day of April, 2001.";
(c) in sub-section (14), in clause (c), after sub-clause (iii), the following sub-clause shall be inserted at the end, namely:—
"(iv) in the case of an undertaking engaged in the integrated business of handling, storage and transportation of foodgrains, means the assessment year relevant to the previous year in which the undertaking begins such business.".
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Section 45, The Finance Act, 2001.
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Questions about Section 45
What does Section 45 of the Finance Act deal with?
Section 45 of the Finance Act is headed "Amendment of section 80-IB". Amendment of section 80-IB. 45. In section 80-IB of the Income-tax Act, with effect from the 1st day of April, 2002,— (a) in sub-section (1), for the brackets, figures and word "(3) to (11)", the brackets, figures, words and letter "(3) to (11) and (11A)" shall be substituted;
How do I find court cases under Section 45 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 2001 45, section 45 Finance Act 2001, section 45 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 45 of the Finance Act, and has it changed?
Its own text turns on section 80 (Amendment of section 234C), 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 2001. 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 Schedule5812 words
- 49. Substitution of new sections for section 922093 words
- 2. Income-tax1972 words
- 5. Amendment of section 101262 words
- 44. Amendment of section 80-IA857 words
- 52. Substitution of new section for section 115AC851 words
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