Amendment of section 10A
Section 6 of the Finance Act, 2001 deals with amendment of section 10A. Amendment of section 10A. 6. In section 10A of the Income-tax Act,— (a) in sub-section (1),— (i) in the second proviso, for the words "undertaking was first set up", the words "undertaking began to manufacture or produce such articles or things or computer software" shall be substituted;
Amendment of section 10A.
6. In section 10A of the Income-tax Act,—
(a) in sub-section (1),—
(i) in the second proviso, for the words "undertaking was first set up", the words "undertaking began to manufacture or produce such articles or things or computer software" shall be substituted;
(ii) the third proviso shall be omitted with effect from the 1st day of April, 2002;
(b) for sub-section (4), the following sub-section shall be substituted, namely:—
"(4) For the purposes of sub-section (1), the profits derived from export of articles or things or computer software shall be the amount which bears to the profits of the business of the undertaking, the same proportion as the export turnover in respect of such articles or things or computer software bears to the total turnover of the business carried on by the undertaking.";
(c) after sub-section (9),—
(i) below Explanation 1, the following proviso shall be inserted, namely:—
"Provided that nothing contained in this Explanation shall apply to any change in the shareholding of the company as a result of—
(a) its becoming a company in which the public are substantially interested; or
(b) disinvestment of its equity shares by any venture capital company or venture capital fund."
(ii) in Explanation 2, in clause ( iv), for the words "in respect of export", the words "in respect of export by the undertaking" shall be substituted;
(iii) after Explanation 2, the following Explanation shall be inserted at the end, namely:—
"Explanation 3.—For the removal of doubts, it is hereby declared that the profits and gains derived from on site development of computer software (including services for development of software) outside India shall be deemed to be the profits and gains derived from the export of computer software outside India.".
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Section 6, The Finance Act, 2001.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 6
What does Section 6 of the Finance Act deal with?
Section 6 of the Finance Act is headed "Amendment of section 10A". Amendment of section 10A. 6. In section 10A of the Income-tax Act,— (a) in sub-section (1),— (i) in the second proviso, for the words "undertaking was first set up", the words "undertaking began to manufacture or produce such articles or things or computer software" shall be substituted;
How do I find court cases under Section 6 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 6, section 6 Finance Act 2001, section 6 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 6 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 10A (Special provision in respect of newly established undertakings in free trade zone, etc), so none of them can safely be read on its own.
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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