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TypeBare Act JurisdictionCentral Government

Finance Act 1970 Section 16

Amendment of Section 80mm

~1 min read
https://sooperkanoon.com/act/25904

Bare act section · Research

About this section

Finance Act 1970 Section 16 is part of Finance Act 1970 - Amendment of Section 80mm. Read the section text below and explore Indian court judgments that cite it.

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Section Text

In section 80MM of the Income-tax Act, in sub-section (1), for the portion beginning with the words "under an agreement" and ending with the words "total income of the assessee", the following shall be substituted, namely :-

"under an agreement entered into by the assessee with such person on or after the 1st day of April, 1969, and approved by the Central Government in this behalf, there shall be allowed a deduction from such income of an amount equal to forty per cent. thereof, in computing the total income of the assessee :

Provided that the application for such approval is made to the Central Government before the 1st day of October of the relevant assessment year.".

Frequently asked questions

What does Finance Act 1970 Section 16 provide?

Section Section 16 of the Finance Act 1970 (Amendment of Section 80mm) is reproduced on this page as part of the Finance Act 1970. 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 1970 Section 16?

Open “Find citing judgments” on this page to search Supreme Court, High Court, and tribunal decisions that reference Finance Act 1970 Section 16. 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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