Amendment of section 44AB
Section 25 of the Finance Act, 2016 deals with amendment of section 44AB. Amendment of section 44AB. 25. In section 44AB of the Income-tax Act, with effect from the 1st day of April, 2017,— (i) | in clause (b), for the words "twenty-five lakh rupees", the words "fifty lakh rupees" shall be substituted; The Act was enacted on 27 Jun 2016.
Amendment of section 44AB.
25. In section 44AB of the Income-tax Act, with effect from the 1st day of April, 2017,—
(i) in clause (b), for the words "twenty-five lakh rupees", the words "fifty lakh rupees" shall be substituted; (ii) in clause (d),—
(a) for the word "business" wherever it occurs, the word "profession" shall be substituted; (b) for the words, figures and letters "under section 44AD", the words, figures and letters "under section 44ADA" shall be substituted; (c) for the words "previous year", the words "previous year; or" shall be substituted;
(iii) after clause (d) and before the long line, the following clause shall be inserted, namely:— Section 25, The Finance Act, 2016.
"(e) carrying on the business shall, if the provisions of sub-section (4) of section 44AD are applicable in his case and his income exceeds the maximum amount which is not chargeable to income-tax in any previous year,".
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
Questions about Section 25
What does Section 25 of the Finance Act deal with?
Section 25 of the Finance Act is headed "Amendment of section 44AB". Amendment of section 44AB. 25. In section 44AB of the Income-tax Act, with effect from the 1st day of April, 2017,— (i) | in clause (b), for the words "twenty-five lakh rupees", the words "fifty lakh rupees" shall be substituted;
How do I find court cases under Section 25 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 2016 25, section 25 Finance Act 2016, section 25 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 25 of the Finance Act, and has it changed?
Its own text turns on Income-tax Act 44AB (Audit of accounts of certain persons carrying on business or profession), so none of them can safely be read on its own. 3 other provisions in this corpus refer back to it.
When was Section 25 of the Finance Act enacted?
Section 25 of the Finance Act, cited as Finance Act 2016 25, was enacted on 27 Jun 2016. It is in force as at the date shown on this page.
Other sections of this Act
- Fourth Schedule. Fourth Schedule21791 words
- Eighth Schedule. Eighth Schedule19903 words
- First Schedule. First Schedule8145 words
- 2. Income-tax3742 words
- 222. Insertion of new Chapter III F2100 words
- 70. Substitution of new section for section 1531931 words
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