Amendment of section 44BBB
Section 19 of the Finance Act, 2023 deals with amendment of section 44BBB. Amendment of section 44BBB. 19. In section 44BBB of the Income-tax Act, after sub-section (2), the following sub-section shall be inserted with effect from the 1st day of April, 2024, namely:— "(3) Notwithstanding anything contained in sub-section (2) of section 32 and sub-section (1) of section 72,
Amendment of section 44BBB.
19. In section 44BBB of the Income-tax Act, after sub-section (2), the following sub-section shall be inserted with effect from the 1st day of April, 2024, namely:—
"(3) Notwithstanding anything contained in sub-section (2) of section 32 and sub-section (1) of section 72, where an assessee declares profits and gains of business for any previous year in accordance with the provisions of sub-section (1), no set off of unabsorbed depreciation and brought forward loss shall be allowed to the assessee for such previous year.".
Section 19, The Finance Act, 2023 (Act 8 of 2023).
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Questions about Section 19
What does Section 19 of the Finance Act deal with?
Section 19 of the Finance Act is headed "Amendment of section 44BBB". Amendment of section 44BBB. 19. In section 44BBB of the Income-tax Act, after sub-section (2), the following sub-section shall be inserted with effect from the 1st day of April, 2024, namely:— "(3) Notwithstanding anything contained in sub-section (2) of section 32 and sub-section (1) of section 72,
How do I find court cases under Section 19 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 2023 19, section 19 Finance Act 2023, section 19 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 19 of the Finance Act, and has it changed?
Its own text turns on section 32 (Amendment of section 56), section 72 (Amendment of section 148), Income-tax Act 44BBB (Special provision for computing profits and gains of foreign companies engaged in the business of civil construction, etc., in certain turnkey power projects), so none of them can safely be read on its own. 2 other provisions in this corpus refer back to it.
When was the Finance Act enacted?
Finance Act was enacted in 2023 as Act 8 of 2023. 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 Schedule10190 words
- 2. Income-tax8337 words
- Fourth Schedule. Fourth Schedule6615 words
- 5. Amendment of section 102717 words
- 150. Substitution of new section for section 1101621 words
- 54. Insertion of new section 115BAE1218 words
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