Amendment of Section 57
Section 30 of the Finance Act, 2020 deals with amendment of Section 57. Amendment of section 57. 30. In section 57 of the Income-tax Act, with effect from the 1st day of April, 2021,— (a) | in clause (i), for the words, figures and letter "dividends, other than dividends referred to in section 115- O", the word "dividends" shall be substituted;
Amendment of section 57.
30. In section 57 of the Income-tax Act, with effect from the 1st day of April, 2021,—
Section 30, The Finance Act, 2020.
(a) in clause (i), for the words, figures and letter "dividends, other than dividends referred to in section 115- O", the word "dividends" shall be substituted; (b) the following proviso shall be inserted, namely:— "Provided that no deduction shall be allowed from the dividend income, or income in respect of units of a Mutual Fund specified under clause (23D) of section 10 or income in respect of units from a specified company defined in the Explanation to clause (35) of section 10, other than deduction on account of interest expense, and in any previous year such deduction shall not exceed twenty per cent of the dividend income, or income in respect of such units, included in the total income for that year, without deduction under this section.".
Cross-references
Extracted from the operative text of the enactments themselves. Every destination below exists in our corpus.
This section refers to
Referred to by 1
Questions about Section 30
What does Section 30 of the Finance Act deal with?
Section 30 of the Finance Act is headed "Amendment of Section 57". Amendment of section 57. 30. In section 57 of the Income-tax Act, with effect from the 1st day of April, 2021,— (a) | in clause (i), for the words, figures and letter "dividends, other than dividends referred to in section 115- O", the word "dividends" shall be substituted;
How do I find court cases under Section 30 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 2020 30, section 30 Finance Act 2020, section 30 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 30 of the Finance Act, and has it changed?
Its own text turns on section 10 (Amendment of Section 12A), section 57 (Amendment of Section 115JC), section 115 (Amendment of Section 157), Income-tax Act 57 (Deductions), so none of them can safely be read on its own. 1 other provision in this corpus refers back to it.
When was the Finance Act enacted?
Finance Act was enacted in 2020. 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
- 2. Income-tax5875 words
- 7. Amendment of Section 102233 words
- 53. Insertion of new sections 115BAC and 115BAD1625 words
- 153. Amendment of Act 28 of 20161366 words
- 116. Substitution of new section for section 8B1203 words
- 95. Amendment of Section 206C1116 words
Source and method. Compiled from the enactments of Parliament and of the State legislatures as published on India Code, and republished together with commentary and other original matter under section 52(1)(q)(ii) of the Copyright Act, 1957. Structured, cross-referenced and maintained by eCourtsIndia. Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument. This page is not a substitute for legal advice.