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TypeBare Act JurisdictionCentral Government

Finance (No. 2) Act, 1996 Section 14

Amendment of Section 36

~1 min read
https://sooperkanoon.com/act/15091

Bare act section · Research

About this section

Finance (No. 2) Act, 1996 Section 14 is part of Finance (No. 2) Act, 1996 - Amendment of Section 36. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 36 of the Income-tax Act, in sub-section (1), in clause (viii), -

(a) for the words "before making any deduction under this section", the words "before making any deduction under this clause" shall be substituted and shall be deemed to have been substituted;

(aa) in the section proviso, for the words "(excluding the amounts capitalised from reserves)", the words "and general reserves" shall be substituted with effect from the 1st day of April, 1997;

(b) in the Explanation, after clause (d), the following clause shall be inserted and shall be deemed to have been inserted, namely :-

'(e) "long-term finance" means any loan or advance where the terms under which moneys are loaned or advanced provide for repayment along with interest thereof during a period of not less than five years.'.

Frequently asked questions

What does Finance (No. 2) Act, 1996 Section 14 provide?

Section Section 14 of the Finance (No. 2) Act, 1996 (Amendment of Section 36) is reproduced on this page as part of the Finance (No. 2) Act, 1996. Lawyers and researchers use it to read the statutory wording before checking how courts have applied this section in reported judgments.

How do I find judgments on Finance (No. 2) Act, 1996 Section 14?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance (No. 2) Act, 1996 Section 14. Advanced act search can narrow results by court, year, or additional act filters.

Is the section text on SooperKanoon official?

SooperKanoon hosts bare act text for research and quick reference. For filings or compliance in Central, confirm the wording against the official state gazette or authorized publication.

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