Amendment of section 10B
Section 6 of the Finance Act, 2002 deals with amendment of section 10B. Amendment of section 10B. 6. In section 10B of the Income-tax Act, with effect from the 1st day of April, 2003,— (a ) in sub-section (1), after the second proviso, the following proviso shall be inserted, namely:— " Provided also that for the assessment year beginning on the 1st day of April, 2003,
Amendment of section 10B.
6. In section 10B of the Income-tax Act, with effect from the 1st day of April, 2003,—
(a ) in sub-section (1), after the second proviso, the following proviso shall be inserted, namely:—
" Provided also that for the assessment year beginning on the 1st day of April, 2003, the deduction under this sub-section shall be ninety per cent of the profits and gains derived by an undertaking from the export of such articles or things or computer software:";
(b ) after sub-section (9) and before Explanation 1, the following shall be inserted, namely:—
"(9A) Notwithstanding anything contained in sub-section (9), where as a result of reorganisation of business, a firm or a sole proprietary concern is succeeded by a company and the ownership or beneficial interest in the undertaking of the firm or the sole proprietary concern is transferred to the company, the deduction under sub-section (1) in respect of such undertaking shall be allowed to the company, as the same would have been allowed to such firm or sole proprietary concern, as the case may be, if the reorganisation had not taken place:
Provided that,—
(a) in the case of a firm, the aggregate of the shareholding in the company of the partners of the firm is not less than fifty-one per cent of the total voting power in the company and their shareholding continues to be as such for the period for which the company is eligible for deduction under this section;
( b) in the case of a sole proprietary concern, the shareholding of the sole proprietor in the company is not less than fifty-one per cent of the total voting power in the company and his shareholding continues to remain as such for the period for which the company is eligible for deduction under this section."
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Section 6, The Finance Act, 2002.
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 10B". Amendment of section 10B. 6. In section 10B of the Income-tax Act, with effect from the 1st day of April, 2003,— (a ) in sub-section (1), after the second proviso, the following proviso shall be inserted, namely:— " Provided also that for the assessment year beginning on the 1st day of April, 2003,
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 2002 6, section 6 Finance Act 2002, 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 10B (Special provisions in respect of newly established hundred per cent export-oriented undertakings), so none of them can safely be read on its own.
When was the Finance Act enacted?
Finance Act was enacted in 2002. 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 Schedule5753 words
- 4. Amendment of section 102120 words
- 2. Income-tax1821 words
- 60. Amendment of section 143781 words
- 21. Substitution of new section for section 43A780 words
- 57. Substitution of new section for section 132B724 words
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