# The Finance Act, 2007, Section 56: Amendment of section 194-I

- Act: The Finance Act, 2007
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2007/section/56/

## Text

Amendment of section 194-I. 56. In section 194-I of the Income-tax Act, for clauses (a) and (b),  the following clauses shall be substituted with effect from the 1st day of June, 2007, namely:— "(a ) ten per cent for the use of any machinery or plant or equipment; (b ) fifteen per cent for the use of any land or building (including factory building) or land appurtenant to a building (including factory building) or furniture or fittings where the payee is an individual or a Hindu undivided family; and (c ) twenty per cent for the use of any land or building (including factory building) or land appurtenant to a building (including factory building) or furniture or fittings where the payee is a person other than an individual or a Hindu undivided family:". © Copyright. Taxmann Publications Pvt. Ltd.

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