Amendment of section 88
Section 47 of the Finance Act, 2001 deals with amendment of section 88. Amendment of section 88. 47. In section 88 of the Income-tax Act, with effect from the 1st day of April, 2002,— (a) in sub-section (1), after the proviso, the following proviso shall be inserted, namely:— ‘Provided further that an individual shall be entitled to a deduction of an amount equal to thi
Amendment of section 88.
47. In section 88 of the Income-tax Act, with effect from the 1st day of April, 2002,—
(a) in sub-section (1), after the proviso, the following proviso shall be inserted, namely:—
‘Provided further that an individual shall be entitled to a deduction of an amount equal to thirty per cent of the aggregate of the sums referred to in sub-section (2) if his income chargeable under the head "Salaries"—
(a) does not exceed one lakh rupees during the previous year before allowing deduction under section 16; and
(b) is not less than ninety per cent of his gross total income as defined in sub-section (5) of section 80B.’;
(b) in sub-section (2), in clause (xiiia), after the words "Life Insurance Corporation", the words "or any other insurer" shall be inserted.
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Section 47, The Finance Act, 2001.
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Questions about Section 47
What does Section 47 of the Finance Act deal with?
Section 47 of the Finance Act is headed "Amendment of section 88". Amendment of section 88. 47. In section 88 of the Income-tax Act, with effect from the 1st day of April, 2002,— (a) in sub-section (1), after the proviso, the following proviso shall be inserted, namely:— ‘Provided further that an individual shall be entitled to a deduction of an amount equal to thi
How do I find court cases under Section 47 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 47, section 47 Finance Act 2001, section 47 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 47 of the Finance Act, and has it changed?
Its own text turns on section 16 (Amendment of section 25), section 88 (Amendment of section 271AA), 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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