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TypeBare Act JurisdictionCentral Government

Finance Act, 1999 Section 53

AMENDMENT OF SECTION 80-0 InSection 80O of the Income Tax Act -, with effect from the 1st day of June, 1999

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https://sooperkanoon.com/act/249846

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About this section

Finance Act, 1999 Section 53 is part of Finance Act, 1999 - AMENDMENT OF SECTION 80-0 InSection 80O of the Income Tax Act -, with effect from the 1st day of June, 1999. Read the section text below and explore Indian court judgments that cite it.

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Section Text

a) in the proviso, for the portion beginning with the words "where the Chief Commissioner" and ending with the words "may allow in this behalf', the words "within such further period as the competent authority may allow in this behalf shall be substituted', (b) after the proviso, the following proviso shall be inserted, namely :- "Provided further that no deduction under this section shall be allowed unless the assessee furnishes a certificate, in the prescribed form, along with the return of income, certifying that the deduction has been correctly claimed in accordance with the provisions of this section.";

(c) in the Explanation, after clause (iii), the following clause shall be inserted, namely:- "(iv) "competent authority" means the Reserve Bank of India or such other authority as is authorized under any law for the time being in force for regulating payments and dealings in foreign exchange.".

Frequently asked questions

What does Finance Act, 1999 Section 53 provide?

Section Section 53 of the Finance Act, 1999 (AMENDMENT OF SECTION 80-0 InSection 80O of the Income Tax Act -, with effect from the 1st day of June, 1999) is reproduced on this page as part of the Finance Act, 1999. 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 Act, 1999 Section 53?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act, 1999 Section 53. 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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