Expenditure-tax Act, 1987 Section 4 - Bare Act

Act Info:

Subjectto the provisions of this Act, there shall be charged on and from-

(a)the commencement of this Act ¹ [but not after the 31st day of May, 2003], a taxat the rate of ² [ten per cent] of the chargeable expenditure incurred in ahotel referred to in clause (1) of section 3:

PROVIDEDthat nothing in this clause shall apply in the case of a hotel referred to in ³ [clause (a) of sub-section (7) of Section 80-IB] of the Income-tax Act duringthe period beginning on the 1st day of April; 1991 and ending on the 31st day ofMarch, 2001;

⁴ [PROVIDEDFURTHER that nothing in this clause shall apply in the case of a hotel referredto in ⁵ [clause (a) of sub-section (7) of section 80-IB] of the Income-tax Act,1961 (43 of 1961) during the period beginning on the 1st day of April, 1998 andending on the 31st day of March, 2008;]

(b)the 1st day of October, 1991 ⁶ [but not after the 31st day of May, 1992],a tax atthe rate of fifteen per cent of the chargeable expenditure incurred in arestaurant referred to in clause (2) of section 3.

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1. Inserted by the Finance Act, 2003w.e.f.01.04.2003.

2. Substituted for the words "twenty percent" by the Finance Act (Act 32 of 1994) w.e.f. 01.06.1994.

3. Substituted for "clause (ii) of sub-section(5) of section 80-IA" by the Finance Act, 1999, w.e.f. 01.04.2000.

4.Inserted by the Finance Act, 1997, w.e.f. 01.04.1998.

5.Substituted for "clause (iia) of sub-section (5) of section 80-IA" by theFinance Act, 1999, w.e.f. 01.04.2000.

6. Inserted by Finance Act (Act 18 of 1992)w.e.f.01.06.1992.