Amendment of section 234B
Section 79 of the Finance Act, 2001 deals with amendment of section 234B. Amendment of section 234B. 79. In section 234B of the Income-tax Act,— (a) in sub-section (1),— (i) for the words "one and one-half per cent", the words "one and one-fourth per cent" shall be substituted with effect from the 1st day of June, 2001;
Amendment of section 234B.
79. In section 234B of the Income-tax Act,—
(a) in sub-section (1),—
(i) for the words "one and one-half per cent", the words "one and one-fourth per cent" shall be substituted with effect from the 1st day of June, 2001;
(ii) for Explanation 1, the following Explanation shall be substituted and shall be deemed to have been substituted with effect from the 1st day of April, 1989, namely:—
‘Explanation 1.—In this section, "assessed tax" means the tax on the total income determined under sub-section (1) of section 143 or on regular assessment as reduced by the amount of tax deducted or collected at source in accordance with the provisions of Chapter XVII on any income which is subject to such deduction or collection and which is taken into account in computing such total income.’;
(b) in sub-section (3), for the words "one and one-half per cent", the words "one and one-fourth per cent" shall be substituted with effect from the 1st day of June, 2001.
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Section 79, The Finance Act, 2001.
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Questions about Section 79
What does Section 79 of the Finance Act deal with?
Section 79 of the Finance Act is headed "Amendment of section 234B". Amendment of section 234B. 79. In section 234B of the Income-tax Act,— (a) in sub-section (1),— (i) for the words "one and one-half per cent", the words "one and one-fourth per cent" shall be substituted with effect from the 1st day of June, 2001;
How do I find court cases under Section 79 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 79, section 79 Finance Act 2001, section 79 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 79 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 234B (Interest for defaults in payment of advance tax), 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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